The July monthly export data show both beef and pork down from year-ago levels but up from June. Compared to June, beef exports were up 36 percent in volume and 9 percent below July 2019. Pork exports were up 7 percent over June but 5 percent below year-ago levels. July was the lowest month since October 2019 for pork export volumes to China, but the demand outlook remains strong approaching the holiday season through the end of the year. For the first half of the year, beef exports are down, and pork is up, with values running just ahead of volumes.
Since March and the COVID outbreak, the average negotiated live hog price has dropped 38 percent as the backlog from packing plant slowdowns hasn’t been worked through com...
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...