Yesterday’s daily cattle slaughter was 110,000 head, up 9 percent from the prior Wednesday’s kill of 101,000 head but down 17 percent from the same day last year (122,000). Daily hog slaughter was 415,000 head, up 5 percent from last week, but still down 14 percent from last year. For the year, cattle slaughter is down 6.9 percent and beef production is down 4.8 percent; hog slaughter is down 1.1 percent and pork production is down 0.5 percent. The backlog at the packing plants is resulting in heavier weights which offsets lower kill numbers. Cattle were up to 1,363 pounds compared to 1,310 pounds the same week last year and hogs were at 293 pounds compared to 286 pounds last year.
This week’s totals are down because...
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...
