Thanksgiving is about 40 days away; retailers have been ordering turkey and soon distribution will get underway. Last year, with COVID resulting in smaller holiday gatherings, non-traditional proteins – namely premium beef cuts – benefitted on the margin. What’s the outlook for this year? October is always the peak month for production. August placements of turkey poults drive the October production; net poult placements were up 2 percent over August 2020, but placements were down from earlier in the year.
September is the typical peak month for inventories in cold storage. Coming into the first week of October, year-to-date slaughter was down about 6 percent from last year and that has tightened supplies...
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...
