This week’s WASDE forecast showed total meat and broiler production increased slightly over last month’s projections. Beef is up on increased slaughter and heavier weights, pork is up slightly on heavier weights (last week hitting 288 pounds) and broilers are up on hatchery data.
Retail beef prices in October eased off their record highs, but holiday demand will likely be bullish moving into next month.
The choice cutout is at record levels for November but down since the first of October, squeezing margins. Cash steers were $131.67 per hundredweight today, up from $130 yesterday and continuing their rise since mid-October when prices finally broke out of their $120/cwt to $124/cwt range-bound trade. Packers ar...
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...
