USDA released its monthly Cold Storage report today. Pork in cold storage as of 31 December was 408.361 MMT, 97 percent of November and 70 percent of December 2019, led by drops in primal cuts virtually across the board. That is good news for hog producers given the disruptions of 2020 – the volume continued to move. Boneless loins inventories were at record highs for December, while bone-in hams were at a record low for December. Production of bone-in hams for the second half of the year was up given the effects of COVID on fabrication.
Pork production in 2020 was 102 percent of 2019, which was a good recovery after the spring plant shutdowns and the euthanization of pigs. The increase was driven by heavier weights; the average s...
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...
