The broiler sector has been “right-sizing” since Q3 after months of margin pressures reducing placement of broiler chicks.
That, along with lower feed costs, helped bring some profitability back into processing margins in September and October. Improved dark meat cuts have helped relieve pressure on boneless/skinless breast meat prices. However, this month margins are moving back toward zero. With lower feed costs, average broiler weights have increased this year. From January through October, the total slaughter of young chickens has remained relatively steady compared to last year, up 0.4 percent, but in liveweight pounds slaughter is up 1 percent as the average weight has been 6.53 pounds compared to 6.47 pounds last...
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...
