Plain and Brown

Cattle outlook: Slaughter total climbs

USDA’s February World Agricultural Supply and Demand Estimates increased the forecasted use of corn for ethanol by 50 million bushel and lowered the estimate of corn ending stocks by 70 million bushels. The result is the lowest ending stocks-to-use ratio (0.05) since the 1995-96 marketing year. FULL STORY »

Cattle Outlook: Nation's inventory continues decline

USDA’s January cattle inventory report showed a continuation of the herd reduction that began in 2007. The total inventory of cattle in the U.S. on January 1 was 92.58 million head, down 1.4% from a year earlier and 4.1% below the last cycle peak. Last year’s calf crop totaled 35.68 million head, down 0.7% from 2009, down for the 15th consecutive year, and the smallest calf crop since 1950. FULL STORY »

Cattle outlook: December placements up 16%

USDA’s January cattle on feed report said feed yard placements during December were up a whopping 16.1% compared to a year ago. Marketings during December were up 4.8% leaving the number of cattle on feed at the start of 2011 up 4.6%. FULL STORY »

Hog Outlook: Strong December Pork Demand, Prices End Higher

As usually happens, retail pork prices dropped in December. The average grocery store price of pork last month was $3.188 per pound, down 13.2 cents from November, but still 36.8 cents higher than 12 months earlier.
FULL STORY »

Cattle Outlook: Retail Beef Prices Dip, Boxed Beef Moves Higher

As usually happens, retail beef prices dipped in December. The average grocery store price of choice beef last month was $4.438 per pound, down 4.6 cents from November, but still 15.3 cents higher than 12 months earlier. December beef production was up 6.5% compared to a year earlier.
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Cattle Outlook: U.S. Beef Exports Exceed Imports

For the third month in a row, November U.S. beef exports were larger than U.S. beef imports. During November, we exported 216 million pounds of beef and imported only 131 million pounds. U.S. beef exports during November were up 24.9% compared to November 2009 with each of the top 12 foreign destinations, except Vietnam, buying more U.S. beef than in November 2009.
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Hog Outlook: Pork Exports Jump, Prices End Higher

U.S. pork exports during November were up 19.7% from the month before and up 6.7% compared to November 2009. The big growth markets were China, Mexico and Japan, each buying at least 10 million pounds more U.S. pork than 12 months earlier. Pork exports equaled 19.6% of November production. Pork imports were up 0.4% in November.
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Cattle Outlook: Boxed Beef Cutout Value Moves High

The per capita supply of red meat and poultry is expected to be lower in 2011 for the fifth consecutive year; down 2.6 pounds from last year and the smallest since 1997. The forecast is for only 57.8 pounds of retail weight beef per person, the smallest supply since 1952. The decline in meat supply has been driven largely by red ink caused by high feed costs.
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Hog Outlook: Bright Outlook For 2011, Meat Supply Declines

The livestock price outlook for 2011 is bright. The per capita supply of red meat and poultry is expected to be lower for the fifth consecutive year; down 2.6 pounds from last year and the smallest since 1997. The forecast is for only 46.7 pounds of retail pork per person, the smallest supply since 1978. FULL STORY »

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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