The USDA’s November forecast for 2024 red meat and poultry production was raised from last month with higher beef, broiler and turkey production forecasts only partially offset by lower pork production. The new estimates came in Friday’s World Agricultural Supply and Demand Estimates report. Broiler and turkey production forecasts were raised based on production data … Read More

The USDA’s Foreign Agriculture Service office in Beijing said in a Global Agricultural Information Network report that China’s rapid economic growth over the past decade means beef consumption has expanded significantly. Beef is considered a high-end product and is the most expensive protein on the market, the FAS said.   LIMITED PRODUCTION   Restrained by … Read More

September exports of pork and beef were higher year over year, according to data released by the USDA and compiled by the US Meat Export Federation, with pork exports well positioned to set annual volume and value records in 2024, a USMEF release said.   PORK EXPORTS NEAR RECORD   September pork exports totaled 238,047 … Read More

Farmer sentiment saw an unexpected surge in October ahead of the US election, according to the latest Purdue University/CME Group Ag Economy Barometer. This month’s survey was conducted from Oct. 14-18.   FUTURE EXPECTATIONS JUMP   In a release, Purdue University Agricultural Economist James Mintert said, the index rose to 115, marking a 27-point increase … Read More

Canada’s Sep. 1 cattle on feed likely hit the annual low point at 767,495 head after declining consistently through the first eight months of the year, according to data gathered from members by CanFax, a nonprofit industry organization based in Calgary, Alberta. CanFax gathers information monthly from member feedlots in Alberta and Saskatchewan and forward … Read More

Managed money, a proxy for large commodity index funds, continued to take on a larger collective net long live cattle futures position in the week ended Tuesday as hedgers advanced their total net short position. The data for that assessment came from the Commodity Futures Trading Commission’s weekly Commitments of Traders report Friday.   LARGEST … Read More

In the fall, summer grilling demand gives way to stronger demand for roasts, crock pot cooking and increased middle meat demand in restaurants, said Derrell Peel, Oklahoma State University Extension livestock marketing specialist, in a letter called Cow-Calf Corner. Wholesale ground beef prices have moderated recently as hamburger grilling demand slows but prices remain well … Read More