Record Meat Production Red meat production hit a record high for April at 4.522 billion pounds, split almost evenly between beef at 2.262 billion pounds and pork at 2.692 billion pounds. It has reached 17.859 billion pounds so far in 2019, which is 102 percent of the same period in 2018. Broiler production at 13.969 billion pounds is 100.9 percent of the first four months of 2018.
Trade Breakthrough The U.S., Canada and Mexico reached a deal to lift the tariffs on steel imports from the latter two countries to the U.S. as well as the counter-tariffs on U.S. prepared beef products shipped to Canada and pork exported to Mexico. The agreement hinged on Canada and Mexico adopting new monitoring and enforcement measures to prevent s...
Given yesterday’s headlines, today’s market action may not be what many expected. The dollar is little changed, crude oil is pulling back and stocks are trading higher. Crude may be the biggest piece of today’s reversal. Saudi Arabia is offering additional crude to Asian buyer...
Key Takeaways: Managed money is holding more than one million net-long contracts across agricultural markets, with corn, soybeans, and soymeal all reaching record net-long positions in September. Fundamental concerns surrounding yields, supplies, and global availability have helped justify the...
Under an Executive Order on 4 September, USDA announced $50 million in new funding to help states establish or expand meat and poultry inspection programs as part of an effort to increase processing options for livestock producers. It’s called the Stand-Up Program, which will help states...
