USDA released the April WASDE today with new 2026 meat production forecasts, changed from the March release.
Beef is now projected at 25.79 billion pounds, down 20 million from March, mostly on lower first-half steer and heifer slaughter. Higher cow slaughter will partially offset the reduced fed cattle slaughter, and heavier weights will keep production up. Imports are forecast to increase based on recent trade data and continued demand for lean processing beef for hamburger. Domestic consumption is forecast to be up as well. Yearly average cattle prices were left unchanged, with an average steer price of $242 per hundredweight, with the exception of the first quarter, which was updated to reflect reported price data through March. ...
What You Need to Know Today: U.S. Treasury Secretary Bessent said Friday that the U.S. has seized $1b of Iranian crypto assets. Iran’s IGGC says 15 merchant vessels, including 4 oil tankers, have passed through the Strait of Hormuz in the past 24 hours. Managed money traders...
Developer's Note: Last year, users pointed out differences between the 5-year averages reported in this app and what USDA estimates in its weekly report. The difference exists because WPI calculates average based on the last 5 years of observations for the current week. In cases where obs...
Key Takeaways: Acidity: Brazil’s agricultural production rose significantly after agricultural researchers were able to reduce soil acidity in the Cerrado region. Rotation: Farmers in the Center-West of Brazil, where the Cerrado is located, enjoy a soybean/corn double cropping advantage...
