The Word Agricultural Supply and Demand Estimates (WASDE) report marginally increased the forecast for total red meat and broiler production by 0.1 percent compared to the November forecast, which itself was up 0.4 percent from October.
Pork was lowered on lighter carcass weights; broilers are up on the supply of birds, pace of slaughter, and hatchery data. Beef production is up on heavier slaughter weights and the current pace of slaughter, which has been running strong for the past three months. For next year, beef is forecast down dramatically, mostly from lower cow slaughter and fewer heifers in the mix, while pork is up. Both beef and pork forecasts for 2023 are unchanged from November. Broiler meat is forecast up for t...
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...
