The WASDE was bearish for the meat and livestock market, but it could have been much worse without one factor.
WASDE USDA released its WASDE report today. The forecast for total red meat and poultry production is up from last month, surprisingly based on increased broiler and turkey production. Key points included the following:
Beef production is forecast down from last month’s forecast due to lower carcass weights. Pork production is also forecast down from last month’s forecast because of slower slaughter in the third quarter. Broiler production is forecast higher than last month’s forecast based on an expected larger slaughter this quarter.
Indeed, cattle slaughter weights are down from last year despite ch...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
