Since January, USDA cattle slaughter data has indicated a 12% decline in beef cow slaughter, said the National Agricultural Statistics Service’s Livestock, Dairy and Poultry Outlook for July. That likely was a combination of improving pasture conditions, sufficient reductions in animal units per acre on poorer pastures and the prospect of improved profitability from selling … Read More

The last two weeks have seen the wholesale price spread between USDA-graded choice and select carcasses narrow, and while this is a seasonal move, there are some differences this year. The choice/select price narrowing is seasonal because the percentage of choice and select carcasses tend to shift as carcass weights decline in summer’s heat.  The … Read More

The outlook for global meat trade remained relatively unchanged from the April forecast, the USDA said in its Livestock and Poultry: World Markets and Trade report. Beef and chicken meat exports were not revised significantly while pork was raised about 2% from the last forecast, the report said.   BRAZIL EXPORTS GROWING   However, Brazil … Read More

Large commodity index funds, called managed money, increased their collective net long live cattle futures position during the trading week ended Tuesday, while cattle owners expanded their total net short position. The data came from the Commodity Futures Trading Commission in its weekly Commitments of Traders report.  Tuesday’s data was compared with the previous Monday’s … Read More

The USDA’s Foreign Agricultural Service’s total US red meat and poultry production forecast for 2023 was raised from last month on higher forecast beef, broiler and turkey production estimates.  This, according to the latest World Agricultural Supply and Demand Estimates report this week.   PORK PRODUCTION ESTIMATE WEAKENS   Pork production this year was seen … Read More

The US Federal Reserve’s Beige Book Wednesday said overall economic activity increased slightly since late May. Five districts reported slight or modest growth, five noted no change, and two reported slight and modest declines, the report said.   CONSUMER SPENDING   Reports on consumer spending were mixed.  Growth was generally observed in consumer services, but … Read More

Led by another outstanding month in Mexico and robust demand for variety meat, exports of US pork continued to gain momentum in May, according to data released by USDA and compiled by the US Meat Export Federation. While well below the record-large volume and value posted in May 2022, beef exports rose from April and … Read More