The July WASDE upped the projections for red meat production and trimmed the broiler forecast by 85 million pounds.
The beef forecast is up on heavier weights. To benchmark, the average slaughter weight last week at 1,383 pounds was up 39 pounds per head compared to a year ago. Much of that is due to lower cow slaughter – both dairy and beef cows – and a higher percent of the slaughter coming from fed steers and heifers. WPI has commented on this previously. Slaughter last week was 50.9 percent steers, 30.8 percent heifers, and 16.5 percent cows. For the same week last year, cows were 20.1 percent of total slaughter. Based on slaughter of 633,000, last year’s cow slaughter would have been about 127,20...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
