Today’s Word Agriculture Supply and Demand Estimates (WASDE) report marginally increased its forecast by 0.2 percent for total red meat and poultry production compared to the August forecast. Only turkey production was down – up to 44 million birds have been culled due to HPAI.
Beef, pork, and broiler production were all revised up slightly. Broiler production is rebounding on higher chick placements and egg sets. Both beef and pork production are forecast up on slaughter volumes but are held back from larger increases by lighter slaughter weights. The pace of slaughter is picking up steam. The last week of August was the highest of the year, and last week’s Labor Day slaughter was the largest in more...
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...
