US Feeder cattle placements and finished cattle sales both increased in October compared to the same month a year ago. Based on recent feedlot data, steer & heifer slaughter will be about unchanged over the next eight months. Beef production from feedlot marketings is projected to increase because of heavier Read more…
Chicago wheat futures prices have been under pressure this autumn due to the outlook for an increase in old crop US wheat carryout stocks. USDA expects a modest decrease in world wheat stocks during the 2024/25 crop year. US Wheat export sales have been the best in four years this Read more…
USDA projected a nearly 20% cut in the average price of soybean meal during the 2024/2025 crop year. Stiff competition from Southern Hemisphere soybean producers accounts for the bearish outlook for soybean meal despite the prospect for very strong usage in 2024/25. The soybean planted area and production is expected Read more…
USDA cut the US corn production estimate this month but made only fractional changes to crop year 2024/25 usage projections. USDA maintained a $4.10 average price at farm level for the 2024/25 crop year. Cash corn was trading just under $4.00 on 11/12/24. A linear model regressing the high and Read more…
USDA has projected a 2% increase in US pork production in 2025. According to USDA US net pork exports will increase again in 2025 and moderate the quantity of pork available for domestic consumption in 2025. USDA January/March 2025 Live hog price forecast suggests February2025 hogs on the CME are Read more…
USDA has forecast a 3% reduction in US beef production next year. Fewer cattle marketed in 2025 will be partially offset by heavier sale weights . Costly feeder cattle and cheap feed grains and protein feeds favor the heavier market weight strategy. We have included historical ranges for February live Read more…