Beef and pork production are starting to rebound, after the big drop in April. Estimated pork production was 2.3 billion pounds for the month and beef was about 1.8 billion pounds – down 11 and 21 percent respectively compared April 2019.
Until the drop in production which started in the second half of March, Q1 2020 beef production was at record levels based on the largest number of cattle slaughtered for the quarter since 2002 and the heaviest dressed weights since 2016. That pushed stocks in cold storage 11 percent higher than the end of March 2019, which came in handy given the production slow down. That still was even close enough to impact wholesale and retail prices. Below is the retail price changes by week versus a year ag...
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...
