WASDE: Lower 2024 Total Red Meat, Poultry Production

Friday’s USDA World Agricultural Supply and Demand Estimates report lowered its total US red meat and poultry production forecast for 2024 slightly from last month with lower forecast broiler and turkey production more than offsetting higher beef and pork.   2024 BEEF PRODUCTION CALLED HIGHER   The beef production estimate for 2024 was raised to … Read More

Choice Beef Production Percentage Turns Normal

The percentage of beef grading choice out of all graded beef is running very close to last year and the 2018-2022 average as federally inspected production follows last year more closely than the previous five-year average.   CHOICE GRADING NOW MORE NORMAL   The USDA’s listing of the percentage of beef production that graded choice … Read More

Evaluating 1H Cattle Markets

With the first half of 2024 in the books, it’s worth evaluating the first six months and what to expect for the remainder of the year, said Derrell Peel, Oklahoma State University Extension livestock marketing specialist, in a letter called Cow-Calf Corner.   CATTLE AT RECORD HIGHS   At mid-year, cattle prices were record high, … Read More

May Beef Export Value Highest Since June 2023

The value of US beef exports topped $900 million in May, the highest since June 2023, according to data released by the USDA and compiled by the USMEF. Pork exports posted another solid performance in May, but were below last year in volume and value, the USMEF said.   BEEF EXPORT VOLUME DOWN, VALUE UP … Read More

Choice Cutout Still Rising, Despite Seasonalities

Now that the Independence Day holiday is past, the USDA’s weekly choice boxed beef cutout should be dropping – but it’s not. In fact, it continues to rise, setting a 2024 high in each of the last five weeks.   CUTOUT KEEPS CLIMBING   The USDA’s weekly choice boxed beef cutout value, as compiled and … Read More

Hog Productivity Gains Offset Farrowing Cuts

Productivity gains helped to offset cuts to farrowings for the US hog industry in the last quarter and could help producers in coming days, Farmdocdaily said in an article last week. The USDA’s June Hogs and Pigs report placed the June 1 inventory of all hogs and pigs at 74.5 million head, up 0.22% from … Read More

Considerations For Selling Beef Direct

Facing tight margins, many producers may be considering marketing alternatives like selling directly to consumers, said Courtney Bir, Oklahoma State University agricultural economist, in an Extension letter called Cow-Calf Corner. When selling directly to consumers, producers are marketing beef, not selling cattle, Bir said.  This adds complexities to the cow/calf or stocker operation.  Plus, the … Read More