CME Daily Features
US - The production stories of the three major meat protein species are considerably different so far in 2015. Total meat and poultry production (including also turkey) so far this year is up 2.1 per cent from one year ago but none of the individual species number is even close to that average, write Steve Meyer and Len Steiner.
US - Is meat and poultry demand softening after a strong two year run? That is a very important question being posed by analysts as they try to look at these markets going forward. As DLR readers know, virtually every metric points to the strength of demand over the past two years but what is it doing now? write Steve Meyer and Len Steiner.
US - Retail pork prices declined slightly in January and retail beef prices set yet another record in January. That makes 11 record highs in the past 12 months for Choice beef and 20 record highs in the past 21 months for the All-Fresh beef price series that includes Select and store-grade beef items, write Steve Meyer and Len Steiner.
US - US meat exports are facing significant headwinds at this time, be this due to the sharp increase in the value of the US dollar, lower prices for competing meats in other countries and the slowdown strike in West Coast ports, write Steve Meyer and Len Steiner.
US - Hog futures rallied yesterday despite ongoing weakness in cash markets. The IA/MN lean hog carcass price (base price before discounts and premiums) was quoted last night at $57.66/cwt, down 75 cents compared to the previous day and down 24 per cent since the start of the year, write Steve Meyer and Len Steiner.
US - According to a Bloomberg report, the labor crisis currently gripping West Coast ports may be close to a resolution, with only one outstanding issue remaining before both sides reach a deal, write Steve Meyer and Len Steiner.
US - The final data for US meat and poultry exports are in for 2014 and the message is still positive with export values up sharply and export volumes staying remarkably steady in light of much higher domestic prices and the appreciating dollar, write Steve Meyer and Len Steiner.
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