Most eyes on today’s WASDE were looking at the crop side since this is the first look at the 2023-24 supply and demand numbers. The livestock projections for 2023, however, saw some impactful projections. This is the sixth WASDE report of the year, and it is the sixth time the fed steer price yearly forecast has been raised. Hog prices were up fractionally over last month.
The WASDE is forecasting fed cattle prices next year to average $180/cwt; another $9/cwt higher than this year. Last week, negotiated cattle prices averaged $182/cwt.
The production outlook shows beef up from last month’s forecast – strong prices are an incentive across the board to market fed steers and heifers to cows and bulls. All cate...
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...
