Today’s WASDE increased beef, pork, and broiler production forecasts slightly, but across the board – all less than one-half percent. Compared to the pre-COVID March forecasts, however, beef is down 1.7 percent, pork down 2.8 percent, and broilers down 3 percent.
All species are up based on increased slaughter, and for beef the forecast includes “higher expected slaughter of fed and non-fed cattle.” Through September, cow slaughter is down from the same period as last year, but as a percent of slaughter beef cows are up from 2019, while dairy cows are down.
High milk prices have reduced dairy cow culling and cow slaughter. The September herd numbers show dairy cows at 33,000 head more than the...
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...