This week’s WASDE forecast showed total meat and broiler production increased slightly over last month’s projections. Beef is up on increased slaughter and heavier weights, pork is up slightly on heavier weights (last week hitting 288 pounds) and broilers are up on hatchery data.
Retail beef prices in October eased off their record highs, but holiday demand will likely be bullish moving into next month.
The choice cutout is at record levels for November but down since the first of October, squeezing margins. Cash steers were $131.67 per hundredweight today, up from $130 yesterday and continuing their rise since mid-October when prices finally broke out of their $120/cwt to $124/cwt range-bound trade. Packers ar...
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...
