Today’s WASDE puts total red meat and poultry production down slightly based on reduced output of broilers and pork. Beef production is up based on non-fed cattle slaughter. Broiler slaughter has been down so far this year while hog slaughter is slowing though slaughter weights are still high. So far this year, slaughter weights have averaged 293 pounds compared to 289 for the same period last year and 286 during 2019.
Pork demand has been strong so far this year. A rebound in the economy is supporting demand. While export totals for the year are forecast to be down from 2020 levels, last week’s export sales report showed big gains at 59,600 tons, up 86 percent from the prior four-week average and peaking at the highest level...
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...