This week’s WASDE upped the projections for pork and broiler production and trimmed the beef forecast slightly at 5 million pounds.
The beef forecast is down on lower slaughter but is offset by heavier weights. For the past 10 weeks, slaughter weights have averaged 1,399 pounds, hitting 1,400 pounds for the first week of June. Last week, slaughter weights were 1,398 pounds compared to 1,340 pounds for the same week last year. Year-to-date, slaughter is down 4.4 percent, but beef production is down only 1.7 percent. Pork production was revised up by 40 million pounds with increased slaughter in Q2 and slightly heavier weights; June slaughter weights were 290 pounds, versus 288 last year. No increase in slaughter forecas...
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...
