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: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
