Yesterday’s Word Agriculture Supply and Demand Estimates (WASDE) report marginally increased its forecast by 0.6 percent for total red meat and broiler production compared to the September forecast. Only turkey production was down slightly by 0.2 percent from September and down 6.4 percent year-over-year due to HPAI (as we covered here).
Pork was raised on higher slaughter over Q3; no changes were made for Q4 estimated slaughter. Beef production is up on heavier slaughter weights and the pace of slaughter, but given the slaughter volumes year-to-date, catalyzed by drought conditions that pulled placements forward, fed cattle supplies will start to contract in November and December, which should be bullish for cattle prices extendi...
What You Need to Know Today: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
