Most eyes on today’s WASDE were looking at the crop side since this is the first report with field test data. That feedback, however, is important to cattle and hog producers looking forward as it will give insight into feed costs moving forward into 2024 as cattle supplies are extremely tight, and hog producers have been battling negative margins for most of the year. In the end, there was not much change. However, on the animal side, the rally in the fed cattle market is expected to rage on, while annual average hog prices for next year finally see some upward movement.
Since last month, hog prices are forecast to finish the year at an average that is $3/cwt lower than the August prediction, dropping fr...
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...
