USDA released its food price outlook this morning. Monthly July over June prices were up 0.5 percent for beef, 1.9 percent for poultry, and 2.2 percent for pork – which hit its highest monthly retail price level in July 2021.
In the protein sector we’re seeing more of the same since 2020, i.e., higher demand and tighter supply, although with differing degrees among the various factors. For example, cattle slaughter is up and through put is higher than last year by more than 4 percent (though July 2021 was down 2.4 percent from the “catching up” harvest in July 2020 after a weak April, May, and June). But fabrication, de-boning and trimming, are still constrained from what would be typically normal volu...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
