Today’s WASDE report trimmed red meat and broiler production by about 0.4 percent with reductions in all species. Compared to last month, fed cattle slaughter outlook is reduced offsetting heavier weights and larger cow slaughter, which increased in Q4 of the year seasonally. Pork production was adjusted down on lighter slaughter weights, and broiler production is reduced as integrators reduce egg sets and chicks placed, a trend WPI noted on 10 August.
The average annual price outlook is steady for steers, down fractionally for broilers, and down significantly for hogs considering that there are only about seven weeks left in the year to move the average.
As noted above, chick placements in the broiler sector are dow...
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...
