Live cattle negotiated prices in the south hit $155/cwt this week, while in the north they reached $157, and still some sellers held out for more. Negotiated dressed prices averaged $245/cwt.
Slaughter last week was down due to the Thanksgiving holiday but was still higher than the same week last year and the largest Thanksgiving week volume since 2006. Much of that was still due to cow slaughter, which will soon go into steep decline, likely adding pressure to fed cattle – especially with fewer heifers in the mix. That will be a steep drop. USDA is still forecasting beef imports for next year to be 3.35 billion pounds, down slightly from the 2022 forecast of 3.376 billion pounds. However, with lower cow slaughte...
WPI recently completed an expansion of our methodology for estimating and forecasting U.S. and global soybean crushing margins. The new approach incorporates the energy market’s expanding influence on the oilseed sector and the structural changes in global biofuel demand. This report is i...
Reflect for a moment on what you eat. There is a lot of advice out there in the ether about what you should eat, but really, what do you currently eat and how much? The good people at the USDA have some data for you, to help you answer that question. USDA says that we eat quite a bit of meat. L...
Key Market Insights Macros: Inflation isn’t cooling — it’s moving higher again. March PCE inflation (Personal Consumption Expenditures index — the Fed’s preferred measure of inflation) rose 0.7 percent month-over-month, pushing the annual rate to 3.5 percent, the h...
An amendment to the U.S. House farm bill, aiming to remove the Save Our Bacon Act language in Section 12006 that would have stripped language to prohibit California’s Proposition 12, Massachusetts’ Question 3, and up to 500 state agricultural laws across the country, was blocked by...
