The May export numbers were released this week; plant shutdowns which hit beef and pork packing plants reduced export totals month over month compared to April. Beef was particularly impacted and dropped to the lowest monthly value in 10 years. Beef export value per head of fed slaughter averaged $282.48 in May, down 10 percent from May 2019.
Pork exports were above May 2019 levels when tariffs were in place by largest volume market Mexico (though removed in the second half of the month), largest variety meat market and global import leader China, and U.S. pork was at a tariff disadvantage to EU and other countries in largest value market Japan. Nonetheless, May exports were the lowest since October when exports to China ramp...
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...