The CME Group has proposed a number of recent changes in an effort to resolve instability seen in cattle markets. National Cattlemen’s Beef Association (NCBA) officials say the moves aren’t addressing the problem areas and more communication is needed between the organizations.
U.S. pork exports posted a strong finish in 2015 as December volume was the largest since April and the third-largest of the year, according to data released by USDA and compiled by the U.S. Meat Export Federation. Beef exports were below year-ago levels in December and posted the first full-year value decline since 2009.
Chicago wheat futures fell again on Wednesday, remaining near their lowest level since 2010 hit on Tuesday after the U.S. Department of Agriculture (USDA) said the largest world wheat inventories in history are being piled up.
The 2016 forecast of total red meat and poultry production is raised from last month as higher forecast pork and broiler production more than offsets reduced forecasts for beef and turkey. USDA’s Cattle report, released January 29, estimated that the cattle inventory continued to increase and pointed to a higher level of cattle outside feedlots on January 1, 2016.