Yesterday’s WASDE had a very bullish outlook for fed cattle prices, raising them again to an annual average of $162/cwt – the previous record annual average cattle price was $154.50/cwt in 2014. Hog prices are down slightly and broiler prices up slightly.
Cattle prices are projected higher even though beef production was forecast up slightly on higher slaughter for the first three quarters of the year due to increased cow slaughter and higher feeder cattle placements. Pork production was lowered from last month on lower projected slaughter weights. Broilers are up on increased hatchery data. Total red meat and broiler production is forecast down -0.7 percent from last year.
With tight U.S. cattle supplies, beef imports are...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
