Today’s WASDE showed USDA’s red meat and broiler production forecast up from last month. Last month’s WASDE total beef, pork and broiler production estimate for 2020 was bumped up to be 0.05 percent greater than 2019. This month it is projected to be 1.7 percent ahead of last year, with a reduction in beef more than offset by pork and broilers, though broiler production is down the most from the pre-COVID March estimates.
Forecast end-of-year average live animal prices are very bearish.
Pork exports are a safety net for hogs. China is still in the market and buying whole/half carcasses and bone-in hams that don’t take as much labor in the packing plant which helps relieve some back log. Mexico, the...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
