Today’s Word Agriculture Supply and Demand Estimates (WASDE) report slightly lowered its forecast for total red meat and poultry production compared to June’s forecast. Broiler production and pork production were revised down, while beef was revised up.
Beef production will see higher slaughter in Q4 based on the inventory of cattle on feed; especially the large numbers of light weight cattle that were placed this spring. Broilers are still struggling from productivity issues, i.e., lower than normal hatchability rates that has now been about a year-long problem. Pork is down on a slower rate of slaughter and forecast lighter weights in the second half of the year. Year to date, slaughter is running 3.9 percent b...
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...
