The meat and livestock projections in today’s WASDE were not as full of fireworks as the grain projections. Compared to last month’s projections, beef and broilers were adjusted down some and pork production was raised. The beef adjustment is based on lighter placements late in 2020 and expected lighter slaughter weights given feed costs. But for the year-over-year all three species are up, lead by pork with beef only slightly.
Livestock and poultry prices rebound over last year’s COVID pandemic reduced slaughter capacity and backup, with the biggest changes for hogs – which are up more than 5 percent from the December projection. That is the only species with a price projection that comes close to offsettin...
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...
