USDA released its long-term outlook for 2024 - 2032 this week. No surprise that USDA’s projections show the continued tight situation for cattle through 2027, hitting a low next year and not reaching 2021 levels until 2032. For hogs and pork, the outlook is for continued expansion starting this year.
Beef production forecast follows the same pattern; 2022 was the fourth consecutive year for record beef production, topping 28.1 billion pounds. Production is forecast to rebound to that level in 2032, but the interesting thing is that beef production – except for this year and next – stays above the levels of the expansion cycle from 2017 - 2019, and well above the production levels of the last contraction cycles in...
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...
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...
