Today’s WASDE increased its beef production forecast slightly over March’s estimate based on first half of the year feedlot placements which will result in more beef production in the second half of the year. Pork production is lowered slightly based on second half of the year production; the latest Hogs and Pigs report showed a lower than expected pig crop and lower than expected farrowing intentions for March-May of this year.
Hog prices are forecast down due to light demand, broiler prices were raised due to strong demand. Inflation at the retail meat case is still a factor. However, beef demand remains strong, supporting prices. USDA again raised the annual average fed cattle price to $164.50/cwt...
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...
