US pork exports raced to a great start in 2024, according to January data released by the USDA and compiled by the US Meat Export Federation. A USMEF release said that while January beef exports were slightly less than last year’s volume, export value trended significantly higher.   MEXICO LEADS PORK PERFORMANCE   Although January … Read More

In its monthly World Agricultural Supply and Demand Estimates report Friday, the USDA raised its 2024 red meat and poultry production forecasts from last month with higher beef, pork and broiler production more than offsetting lower turkey production estimates. Historical red meat, poultry and egg supply and use estimates were adjusted to reflect revisions in … Read More

The February Purdue University/CME Group Ag Economy Barometer reading reached 111, marking a five-point rise from last month, said Purdue Agricultural Economist James Mintert, in a release. The small uptick was attributed to producers expressing increased optimism about the future, with the Future Expectations Index climbing seven points to 115, Mintert said.  However, the Current … Read More

The Federal Reserve’s Beige Book, which discusses current economic conditions across the 12 Federal Reserve districts, said, “economic activity increased slightly, on balance, since early January.” Eight districts reported slight to modest growth in economic activity, three others reported no change and one noted a slight softening, the publication said.   CONSUMER SPENDING EASED   … Read More

Canada’s cattle on feed Feb. 1 declined seasonally and were between Feb. 1, 2023, and the 2018-2022 average at 1.034 million head, according to data from CanFax, a private market advisory group. CanFax surveys its members in Alberta and Saskatchewan to ascertain the total, among other data points.  It shares the total on feed and … Read More

With the US price of 90% beef trimmings shooting higher, it seems logical to assume that US imports of lean beef trimmings will increase, for this year at least. And, since most of the fresh beef imported is lean trimmings, it might pay to look at a major world beef exporter to see their beef … Read More

Large commodity index funds, better known as managed money, enlarged their collective net long live cattle futures position for the sixth straight time in the week ended Tuesday. At the same time, cattle owners, or commercial traders, extended their total net short cattle position for the sixth straight week. The information came from the weekly … Read More