Today’s Word Agricultural Supply and Demand Estimates (WASDE) report marginally increased its forecast for total red meat and poultry production compared to July’s forecast. Beef and broiler production were revised up, while pork (and turkey) were revised down.
Broiler production is expected to increase in Q4 based on hatchery data. That will weigh on broiler prices but given strong domestic consumer demand for broiler meat as shoppers economize their protein choices at the grocery store, broilers remain priced well above last year when consumer expenditures were heavily focused on beef.
Hog slaughter in Q3 is slower than what was expected, which has been reflected in hog prices. The chart below sho...
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...
