COVID-19 made a mess of things in the cattle and beef markets. Things are starting to normalize, but the ride is bumpy – and made even bumpier by poor pasture conditions and $7.50/bushel corn. Compared to year ago levels, meat production last week was up by 51 percent; cattle slaughter up by 48 percent (slaughter weights were 10 pounds heavier this year over last), but last year at this time was when packing plants were being idled due to COVID. A better comparison for cattle slaughter is 2019. So far, cumulative slaughter for the year-to-date is 2.6 percent higher than in 2019.
However, cattle slaughter last week was down 2.4 percent from the week before, and actually was down 3.4 percent for the same week in 2019. Th...
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...