Grimes and Plain
Cattle Outlook: Boxed Beef Cutout Value Up, Slaughter Estimates Increase
Fed cattle prices were close to record levels this week. The 5-area daily weighted average price for slaughter steers sold through Wednesday of this week on a live weight basis was $106.26/cwt, up $3.79 compared to a week earlier and the highest weekly average price since October 2003.
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Hog Outlook: Prices Ends Higher, Slaughter Total Climbs
The average carcass weight of barrows and gilts slaughtered the week ending December 18 was 205 pounds, unchanged from the previous week and 7 pounds heavier than a year ago. Iowa-Minnesota live weights for barrows and gilts marketed last week averaged 274.3 pounds, up 0.5 pound from the week before and up 6.8 pounds compared to a year earlier.
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Cattle Outlook: Placements Up, Boxed Beef Cutout Value Lower
USDA's latest Cold Storage report indicates there was 441 million pounds of beef in cold storage at the end of November. This was 6.3% more than the month before and 2.3% more than a year earlier. Frozen stocks of chicken were also up while the amounts of pork and turkey in cold storage were down compared to a year earlier.
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Hog Outlook: Swine Breeding Herd Declines, Frozen Pork Down
USDA's December Hogs and Pigs reports said the swine breeding herd was down 1.2% at the start of December and the market hog inventory was down 0.8% compared to December 1, 2009. USDA said fall farrowings were down 2.3% and predicted winter farrowings would be down 0.6% and spring farrowing would be 2.3% lower than for March-May 2010.
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Hog Outlook: Lower U.S. Pork Exports, Prices End Higher
The average price of pork in grocery stores last month was $3.32 per pound, the second highest month ever. November retail pork prices were down 4.3 cents from October, but 50.2 cents higher than in November 2009.
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Cattle Outlook: Beef Imports Drop, Tight 2011 Beef Supply
Beef exports have exceeded imports only five times since 2003. During October, for the second month in a row, the U.S. exported more beef than we imported.
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Hog Outlook: Heavier Hog Weights, USDA Meat Production Forecast Up
Ever since the new crop corn hit the feed bins, hog slaughter weights have been heavy. The average carcass weight of barrows and gilts slaughtered the week ending November 27 was a record 206 pounds, one pound heavier than the previous week and 5 pounds heavier than a year ago.
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Hog Outlook: Heavier Hog Weights, USDA Meat Production Forecast Up
Ever since the new crop corn hit the feed bins, hog slaughter weights have been heavy. The average carcass weight of barrows and gilts slaughtered the week ending November 27 was a record 206 pounds, one pound heavier than the previous week and 5 pounds heavier than a year ago.
FULL STORY »
Cattle Outlook: USDA Meat Production Forecast Climbs, Boxed Beef Cutout Value Steady
USDA has revised upward their forecast of meat production in both 2010 and 2011. They are now estimating 2010 red meat and poultry production at 91.6 billion pounds. That is up 0.8% from 2009 and up 0.6% from their November estimate.
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Cattle Outlook: USDA Meat Production Forecast Climbs, Boxed Beef Cutout Value Steady
USDA has revised upward their forecast of meat production in both 2010 and 2011. They are now estimating 2010 red meat and poultry production at 91.6 billion pounds. That is up 0.8% from 2009 and up 0.6% from their November estimate.
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Cattle Outlook: Boxed Beef Cutout Jumps, Slaughter Total Up
The U.S. economy added fewer jobs than expected during November and the unemployment rate climbed to 9.8%, the highest in seven months. This is not good news for meat demand. Retail meat prices have been fairly high in recent months, not because of strong demand, but because of small supplies.
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- Michigan hay buyers should plan purchases early
- Seven jobs more dangerous than farming
- New animal identification rules aid disease traceability
- Drought losses in Oklahoma top $400 million for 2012
- Survey reveals most Americans in favor of COOL
