Thanksgiving is about 40 days away; retailers have been ordering turkey and soon distribution will get underway. Last year, with COVID resulting in smaller holiday gatherings, non-traditional proteins – namely premium beef cuts – benefitted on the margin. What’s the outlook for this year? October is always the peak month for production. August placements of turkey poults drive the October production; net poult placements were up 2 percent over August 2020, but placements were down from earlier in the year.
September is the typical peak month for inventories in cold storage. Coming into the first week of October, year-to-date slaughter was down about 6 percent from last year and that has tightened supplies...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
