USDA released its monthly meat price spreads today, which show the producer, packer and retailer share of the retail value of beef and pork. As expected, based on past and the current CPI reports, retail values of red meat during Q3 were down from earlier in the year, though beef saw a holiday spike in December. For the month, beef retail prices were flat, but down 3.1 percent on the year. Pork prices were down 1.9 percent for the month and up 1.5 percent for the year. Meanwhile, cattle producers are seeing a growing share of the retail value of beef, while hog producers have been seeing a declining share of the retail value of pork.
Obviously, for beef, with retail values declining and cattle prices increasing, the packers’ margin...
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...
