The July WASDE upped the projections for red meat production and trimmed the broiler forecast by 85 million pounds.
The beef forecast is up on heavier weights. To benchmark, the average slaughter weight last week at 1,383 pounds was up 39 pounds per head compared to a year ago. Much of that is due to lower cow slaughter – both dairy and beef cows – and a higher percent of the slaughter coming from fed steers and heifers. WPI has commented on this previously. Slaughter last week was 50.9 percent steers, 30.8 percent heifers, and 16.5 percent cows. For the same week last year, cows were 20.1 percent of total slaughter. Based on slaughter of 633,000, last year’s cow slaughter would have been about 127,20...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
Key Takeaways: Peace at last in the Persian Gulf? Over the weekend, the U.S. announced and Iranian officials confirmed a peace agreement, with formal ratification set for Geneva on 19 June. The announcement means the Strait of Hormuz is set to reopen fully and toll-free within 30 days.&n...
