Today’s Word Agriculture Supply and Demand Estimates (WASDE) report slightly lowered its forecast for total red meat and poultry production compared to June’s forecast. Broiler production and pork production were revised down, while beef was revised up.
Beef production will see higher slaughter in Q4 based on the inventory of cattle on feed; especially the large numbers of light weight cattle that were placed this spring. Broilers are still struggling from productivity issues, i.e., lower than normal hatchability rates that has now been about a year-long problem. Pork is down on a slower rate of slaughter and forecast lighter weights in the second half of the year. Year to date, slaughter is running 3.9 percent b...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
