Today’s Word Agricultural Supply and Demand Estimates (WASDE) report marginally increased its forecast for total red meat and poultry production compared to July’s forecast. Beef and broiler production were revised up, while pork (and turkey) were revised down.
Broiler production is expected to increase in Q4 based on hatchery data. That will weigh on broiler prices but given strong domestic consumer demand for broiler meat as shoppers economize their protein choices at the grocery store, broilers remain priced well above last year when consumer expenditures were heavily focused on beef.
Hog slaughter in Q3 is slower than what was expected, which has been reflected in hog prices. The chart below sho...
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...
