The Word Agricultural Supply and Demand Estimates (WASDE) report marginally increased the forecast for total red meat and broiler production by 0.1 percent compared to the November forecast, which itself was up 0.4 percent from October.
Pork was lowered on lighter carcass weights; broilers are up on the supply of birds, pace of slaughter, and hatchery data. Beef production is up on heavier slaughter weights and the current pace of slaughter, which has been running strong for the past three months. For next year, beef is forecast down dramatically, mostly from lower cow slaughter and fewer heifers in the mix, while pork is up. Both beef and pork forecasts for 2023 are unchanged from November. Broiler meat is forecast up for t...
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...
