The latest Cold Storage report from USDA (which features commodity stocks as of 31 October 2019) shows growing supplies of pork and chicken and a modest tightening in beef supplies. Total red meat supplies were up 1 percent from September but down 1 percent from year-ago levels.
Total beef in freezers fell 10 percent from year-ago levels and was basically unchanged (up 1 percent) from September. The freezer stocks should continue to support beef values though fed cattle supplies ready to be marketed (i.e., on feed 120 days or more as reported in the October Cattle on Feed report) may help boost beef stocks.
Bone-in beef stocks continue to compose a small share of total beef stocks as packe...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
