Livestock and Feed Projections USDA’s 95th Agricultural Outlook Forum kicked off today in Washington, DC, which is the official rollout of its 10-year baseline forecast. Following are some livestock highlights for 2019:
Fed steer prices are forecast at $117.75/cwt, up from $116.29/cwt for the final 2018 price. Hog prices are projected at $41.25/cwt, down from $45.23/cwt for the expected final 2018 price. Broilers prices are projected to be $95.80/cwt, down from the expected final 2018 price of $97/cwt.
As for the 2019 domestic production outlook in the U.S., feed prices are expected to remain relatively stable. Corn prices are projected to be up, but cheaper soymeal will moderate the impact of that on overall feed costs. Iron...
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...
