Broilers Under Short Term Pressure Meat demand remains steady with production. USDA’s forecast ending stocks for the fourth quarter of 2019 remains relative unchanged from the ending stocks in 2018 though beef production is up 0.1 percent, broiler production is up 3 percent and pork production is up 4.2 percent. Stocks are measured in the chart below by the weekly average production for the year.
Broilers are facing short term pressure, however. The growth in consumption that has helped keep stocks in check has been a result of bearish prices moving volumes.
This has especially been the case for breast meat prices which are now trading at multi-year lows. The current market is also influencing 2020 contracts from processo...
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...
