Today’s Word Agricultural Supply and Demand Estimates (WASDE) report marginally increased its forecast for total red meat and poultry production compared to July’s forecast. Beef and broiler production were revised up, while pork (and turkey) were revised down.
Broiler production is expected to increase in Q4 based on hatchery data. That will weigh on broiler prices but given strong domestic consumer demand for broiler meat as shoppers economize their protein choices at the grocery store, broilers remain priced well above last year when consumer expenditures were heavily focused on beef.
Hog slaughter in Q3 is slower than what was expected, which has been reflected in hog prices. The chart below sho...
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...
