Today’s WASDE shows total red meat and poultry production finishing the year slightly below last month’s forecasts, though up 0.3 percent from 2020. This month’s forecast increased beef production on increased slaughter and heavier slaughter weights, increased pork based on slaughter, and decreased broiler production on hatchery and slaughter rates.
But as we covered last week, broiler production is expected to rebound next year based on broiler chick hatching intended for placement. For year-over-year production, the WASDE forecast for broilers is an increase of 1.7 percent, though WPI believes it could be higher, at least for the first half of the year. Beef production in 2022 is forecast to come in about 3 percent be...
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...
