Record Red Meat Exports USDA released the November red meat export statistics this week, which showed pork exports reached their highest monthly total on record (223,962 MT) and beef exports (111,915 MT), though down from November 2016, were still on trend to hit a record volume for 2017.
Pork exports were up in most markets except China (and Hong Kong) due to increased domestic production there. While the January-November volume was down about 9 percent versus the same period in 2016, however, the value was only 1 percent lower because of the demand for offal and variety meats. China (and Hong Kong) paid approximately 17 percent more for variety meats compared with last year, and the U.S. Meat Export Federation indicated the $667 milli...
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...
