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: 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...
