Today’s WASDE showed USDA’s red meat and broiler production forecast down 5.6 percent from the March WASDE estimates, but only 1.5 percent lower than 2019.
Production is down on slaughter interruptions. Notably, according to the National Pork Board, today is the first day since 24 April that all pork packing plants are operating, though of course, through put is down. Slaughter is at an estimated 71 percent of capacity. A slower slaughter pace for hogs will be partially offset by heavier weights – both cattle and hog slaughter weights last week were up from year ago levels, a result of the backup caused by plant shutdowns. Chicken production will be lower on fewer hatchings and lower chick placements...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
Key Takeaways: Texas illustrates the assumptions underlying the 2025 FMMO reform; Idaho exposes their limitations. The Southwest order blend (roughly 27 percent Class I, 32 percent Class III and 31 percent Class IV) exposes Texas producers to every lever USDA adjusted, with a near-neutral proj...
