In its monthly World Supply and Demand Estimates report Thursday, the USDA said its 2026 total red meat and poultry production estimate was lowered. The production estimate for both was lowered on projections for reduced slaughter.   BEEF PRODUCTION ESTIMATE TRIMMED   The beef production forecast was reduced as lower steer and heifer slaughter in … Read More

February exports of US pork were slightly higher year-over-year, according to data released by the USDA and compiled by the US Meat Export Federation. While beef exports trended lower, in large part because of continued lack of access to China, shipments of beef variety meat posted another strong increase.   PER-HEAD PORK EXPORT VALUE ROBUST … Read More

Farmer sentiment improved in March as the Purdue University-CME Group Ag Economy Barometer Index rose from 116 points in February to 127, according to a Purdue University release. The March barometer survey was conducted among 400 farmers across the nation from March 16-20.   CURRENT CONDITIONS INDES UP   The Current Conditions Index increased by … Read More

Am Artificial Intelligence US summer forecast “suggests trend toward warmer-than-average conditions, particularly across the West, with some potential for cooler-than-normal weather in the north and east.” That is a bit scarry for those looking for a large boost in heifer retentions and cattle herd rebuilding this year, for a significant portion of US grazing land … Read More

During the week ended Tuesday, managed money, a proxy for large commodity index funds, invested heavily in live cattle futures, extending their collective net long position. At the same time, cash cattle traders, called commercial traders, extended their total net short position, as related in the data from the weekly Commitments of Traders report from … Read More

Wednesday, we reported part of a speech given by Kansas City Federal Reserve President and CEO Jeff Schmid to the Rotary Club of Oklahoma City discussing monetary policy and the economic outlook. Schmid talked about economic tailwinds and headwinds that are affecting consumer spending, many of which have implications for the continued strong beef demand … Read More

Kansas City Fed President and CEO Jeff Schmid delivered remarks to the Rotary Club of Oklahoma City Tuesday, discussing monetary policy and the economic outlook.  Schmid addressed consumer spending, productivity, Artificial Intelligence, labor and demographic trends, energy prices, and inflation. He talked about economic tailwinds and headwinds that are affecting consumer spending, many of which … Read More