Livestock slaughter weights have been diverging this year with cattle trending down and hogs trending up.
The heavier slaughter weights for hogs likely stem from packers trying to maintain margins by slowing slaughter rates and leaving them to be finished longer. Year-to-date hog slaughter is up 2.8 percent, but pork production is 3.6 percent higher due to the heavier slaughter weights. If those weight levels continue, pork production over the summer, a period when there is a usual seasonal decline, could maintain the year-to-date expansion pace. In the cattle and beef market, the same pattern of final product growth exceeding slaughter rates is playing out but not as dramatically. This is because cattle size is tailing off from the pea...
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...
