The February WASDE adjusted the red meat and broiler forecast for both 2019 and 2020. The table below shows a recap.
Total red meat and poultry production was updated based on slightly higher beef slaughter and heavier weights, but that is front loaded to the first half of 2020. Production is expected to drop in the second half of the year based on the estimated small size of the cattle herd reported at the end of January. Broiler production was raised on the number of chicks hatched. Pork production was raised on increased slaughter and weights, both of which have been bearish for hogs. Slaughter is up 3 percent compared to last year for the first five weeks of the year, and pork production is up 3.6 percent on heavie...
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...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
