Today’s WASDE showed red meat and poultry production down 1.1 percent from the March WASDE estimates, but still 3.3 percent higher than 2019.
Estimated pork production actually increased from the March estimates. Hogs are in the pipeline in barns and can’t be turned out to pasture; what is coming to market is coming. Plus, hogs are already running at heavy weights. The average slaughter weight so far this year is 288.7 pounds. Aside from the economic cost of feeding longer with bargain basement hogs prices, there just is not a lot of room to slow down hog marketing through heavier hogs. Broilers, of course, have about a seven-week production cycle, so production can be managed to some degree. Although slowing dow...
Key Market Insights The broad market is locked in on this week’s Trump-Xi meeting in Beijing, but this is no longer just a trade summit. Increasingly, the meeting is becoming tied directly to Iran, energy security, and the growing global economic fallout from disruptions through the Strai...
