Meat Stocks Decline but Await New Demand USDA issued its monthly Cold Storage report just before the government closed for Christmas Eve and while major meat supplies were down relative to November’s report, they remain on trend higher than the previous year. For example, total red meat in freezers were down two percent from November but were two percent higher than in December of last year.
Stocks of frozen pork were down 6 percent from last month but still remain sharply higher (up 13 percent) from a year ago. One exception in the trend is pork bellies, which were up 14 percent from November and 40 percent higher than last year.
Like red meat, poultry supplies were down 10 percent for the month but up one percent higher than...
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...
