Preliminary December broiler production was 3.8 billion pounds, which would bring 2022 annual production to 46.2 billion pounds. That is 103 percent of 2021.
The increase was driven by larger slaughter in the second half of 2022 and heavier bird weights in Q1 and, especially, in Q4.
Some of that momentum going into 2023 will be lost as hatchery data shows a drop back to nearer 2021 levels.
While still ahead of last year, it’s a dramatic drop from the trend beginning in June, but June is when wholesale chicken prices started to drop. Likewise, June was when chicken in cold storage moved toward month-over-month increases through the end of the year. As of December, total stocks in cold storage were 931.8 million pou...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
