The USDA’s Foreign Agricultural Service believes ample opportunities exist for US agricultural exports to South Korea. Relayed in a release, the FAS said, US agricultural product exports hit a record $9.5 billion in 2022, up 2% from 2021.  South Korea is the sixth largest export market for the US, thanks in part to a successful … Read More

Overall, primal beef values are exhibiting their regular seasonal price behavior, said David Anderson, Extension economist at Texas A&M University, in a Livestock Marketing Information Center letter called In The Cattle Markets. The middle meats, largely the rib, are increasing in value while the end meats are declining in value, Anderson said.  For the year, … Read More

US pork exports posted another strong performance in October, led by record-large shipments to Mexico and broad-based growth elsewhere, according to data released by USDA and compiled by the US Meat Export Federation. October beef exports remained well below last year’s large totals but improved from September, led by stronger demand in Mexico and Taiwan, … Read More

Managed money, a proxy for large commodity index funds, continued selling live cattle futures in the week ended last Tuesday, Dec. 5, as hedgers bought a few extra contracts. The weekly Commitments of Traders report from the Commodity Futures Trading Commission showed the changes in major trader groups.   FUNDS SELL CATTLE   Last Tuesday, … Read More

The USDA’s December forecast for 2023 red meat and poultry production was raised from last month as higher fourth-quarter pork and broiler forecasts were offset partially by lower turkey output. The USDA’s monthly World Agricultural Supply and Demand Estimates report was released Friday.   2023 BEEF PRODUCTION SEEN STEADY   The USDA’s 2023 beef production … Read More

USDA reported wholesale prices for 50% lean ground beef have been declining as retail sales at fast food restaurants decline, but this should not be called declining demand. At least some of it could be laid at the feet of a decline in buying interest linked to rising retail prices for fast food, but not … Read More

Farm debt balances at commercial banks grew steadily in the third quarter but loan performance remained strong, said Kansas City Federal Reserve Bank Economists Nate Kauffman and Ty Kreitman said in a Federal Reserve Bank release. Despite some indications of slower lending activity in recent surveys and subdued loan demand for some lenders, outstanding debt … Read More