Today’s WASDE increased beef, pork, and broiler production forecasts slightly, but across the board – all less than one-half percent. Compared to the pre-COVID March forecasts, however, beef is down 1.7 percent, pork down 2.8 percent, and broilers down 3 percent.
All species are up based on increased slaughter, and for beef the forecast includes “higher expected slaughter of fed and non-fed cattle.” Through September, cow slaughter is down from the same period as last year, but as a percent of slaughter beef cows are up from 2019, while dairy cows are down.
High milk prices have reduced dairy cow culling and cow slaughter. The September herd numbers show dairy cows at 33,000 head more than the...
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...
