Today’s WASDE report trimmed red meat and broiler production by about 0.4 percent with reductions in all species. Compared to last month, fed cattle slaughter outlook is reduced offsetting heavier weights and larger cow slaughter, which increased in Q4 of the year seasonally. Pork production was adjusted down on lighter slaughter weights, and broiler production is reduced as integrators reduce egg sets and chicks placed, a trend WPI noted on 10 August.
The average annual price outlook is steady for steers, down fractionally for broilers, and down significantly for hogs considering that there are only about seven weeks left in the year to move the average.
As noted above, chick placements in the broiler sector are dow...
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...
