Most eyes on today’s WASDE were looking at the crop side since this is a critical month with harvest underway. However, there were a few items of interest in the meat and livestock sections of the report. Beef and pork production were up slightly based on broiler production being revised down from last month.
Overall, the WASDE comports with the trends and developments WPI has reported on. Beef production was adjusted based on higher bull and cow slaughter in Q3; most of that cow slaughter has come from dairy culling, a trend we noted to watch back in July. Milk cows on dairy farms were 13,000 head lower in July compared to July of last year. Milk production per cow in July was down 9 pounds based on hot weather in key produ...
The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to: Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet aga...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
