Today’s Word Agriculture Supply and Demand Estimates (WASDE) report marginally increased its forecast by 0.2 percent for total red meat and poultry production compared to the August forecast. Only turkey production was down – up to 44 million birds have been culled due to HPAI.
Beef, pork, and broiler production were all revised up slightly. Broiler production is rebounding on higher chick placements and egg sets. Both beef and pork production are forecast up on slaughter volumes but are held back from larger increases by lighter slaughter weights. The pace of slaughter is picking up steam. The last week of August was the highest of the year, and last week’s Labor Day slaughter was the largest in more...
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...
