January 8, 2018

January 8 Weekly Update

01/08 – We enter 2018 with abundant protein supplies. Combined beef, pork and poultry in cold storage on Dec 1st totaled 2.179B lbs, 4.9% above a year ago. Beef production was up 4.3% in 2017 with another (projected) 4.9% coming in 2018. Pork output was up 2.5% in 2017, with

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January 2, 2018

January 1 Weekly Update

01/01 – Two USDA reports issued on Dec 22 confirmed large meat supplies for the 1st half of 2018. The USDA said new cattle placements onto feedlots in Nov were 14% above a year ago. That pushed total feedlot inventories on Dec 1 to 11.5M head, up 8% from last

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January 2, 2018

December 25 Weekly Update

12/25 – ‘Twas the night before Christmas and all through the White House, not a creature was stirring, not even the Twitter mouse. The stockings were hung by the chimney with care, in hopes that tax savings soon would be there. The Donald was nestled all snug in his bed,

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December 19, 2017

December 18 Weekly Update

12/18 – In last week’s WASDE report, the USDA made minor changes to domestic and world grain numbers. For 2017/18, corn ending stocks were lower due to a 50M bushel increase in corn use for ethanol, but USDA’s corn price forecast was unchanged at $3.20 per bushel. Corn futures at

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December 4, 2017

December 4 Weekly Update

12/4 – The USDA is forecasting very mediocre 1.9% increases in broiler production for both 2017 and 2018. But so far, that’s been more than enough output to build supplies. Total chicken inventories in cold storage on Oct 1st were 11.7% above a year ago and 20.4% higher than the

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November 27, 2017

November 27 Weekly Update

11/27 – Dairy is looming as one of the more difficult commodity areas to forecast and contract for 2018. Milk production was on the slow side again in Oct, up 1.4% from a year ago following a slim 1.1% gain in Sept. Dairy herd numbers declined for the 2nd straight

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November 13, 2017

November 13 Weekly Update

11/13 – In Thursday’s WASDE report, the USDA increased its corn yield estimate to a record-high 175.4 bushels per acre. Total U.S. corn output is projected at 14.58B bushels, up from 14.28B a month ago. USDA increased projected corn usage and exports, but still raised corn ending stocks by 147M

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November 6, 2017

November 6 Weekly Update

11/6– Pork supplies were forecast to be ample for the fall holiday season, and prices were expected to be weak. With that in mind, retailers loaded up on pork features and foodservice operators continued to put bacon on everything. Add a Sept surge in export sales and the result is

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October 23, 2017

October 23 Weekly Update

10/23 – In Friday’s Cattle on Feed Report, the USDA said new placements onto feedlots in Sept soared to 13.5% above a year ago. Total feedlot inventories on Oct 1st were 10.8M head, 5.4% above a year ago. Meanwhile, cattle marketings in Sept were just 2.9% above 2016. The much

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October 9, 2017

October 9 Weekly Update

10/9 – Q3 production numbers provide evidence of productivity declines in the broiler breeder flock. The number of eggs set in incubators in Q3 soared by 11.4% above year ago levels; yet the number of those eggs that successfully hatched and placed into incubators for growth out was up just

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