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...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
