While beef retail prices have cooled a bit in the U.S. from last year’s record domestic demand, export demand remains exceptional. Beef exports totaled 108,501 MT in February and were 105 percent of February 2021. Exports by value were 135 percent of a year ago at $904 million. In the first two months of the year, beef exports by value have been almost $2 billion, 146 percent of the same period in 2021. By volume, 2022 exports are 109 percent of last year at 227,567 MT. In terms of supply, exports so far this year have accounted for more than 14 percent of production, which is slightly below last year’s 14.4 percent, but high demand and a mix of exported products have driven major gains in value.
Exports, especially b...
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...
