CME Daily Features
US - The results of the latest USDA ‘Cold Storage’ report probably did not get as much attention as the feedlot survey but we think it perfectly encapsulates the current state of the US meat industry, write Steve Meyer and Len Steiner.
US - USDA-NASS has released its June monthly livestock slaughter numbers. Although USDA-AMS reported daily slaughter gives us a fairly clear picture of what monthly slaughter was before the monthly report comes out, the monthly numbers are helpful in terms of putting longer term trends in perspective, write Steve Meyer and Len Steiner.
US - Before getting into the topic of the day, we remind readers that USDA’s National Agricultural Statistics Service (NASS) has some important reports being released this week, write Steve Meyer and Len Steiner.
US - Cash hog prices continue to decline and this has added to jitters in the pork complex about the outlook for hog values as we go into the fall and early winter months. The IA/MN base price last night closed at $74/30, down $1.36 from the previous close and now down $4.35 compared to just two weeks ago, write Steve Meyer and Len Steiner.
US - The USDA’s Economic Research Service (ERS) published May monthly trade numbers for the protein industries last week. This data is based on the US Department of Commerce trade data, write Steve Meyer and Len Steiner.
US - Summer hog futures rose sharply between mid May and mid June, driven in part by the rally in the grain markets but also rampant speculation that robust Chinese export demand would force domestic prices higher, write Steve Meyer and Len Steiner.
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