Final 2018 Red Meat Production USDA released the final tally of 2018 red meat production yesterday. Beef and pork production were individually 103 percent of the prior year. Their aggregate total of 53.5 billion pounds was also 103 percent of the record set in 2017. Production forecasts for 2019 have beef at 101.5 percent of last year’s total and pork production at 104 percent. Meanwhile, U.S. pork production is projected to surpass the total volume of beef by 45 million pounds.
The higher production is the result of slightly expanded slaughter capacity. There were 837 plants slaughtering under federal inspection on 1 January 2019 versus 834 the year before. Of these, 663 plants slaughtered at least one head of cattle during 2018...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
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...
