Key Takeaways:
U.S. beef production is forecast to fall 10.5 percent in 2026 and remain unchanged in 2027, despite a mild recovery in fed cattle slaughter. Record beef imports will help offset shrinking domestic production, with imports forecast to increase 14.0 percent in 2026 and another 3.8 percent in 2027. Meanwhile, U.S. beef exports are expected to decline for a fourth consecutive year. Fed cattle prices have additional upside potential in 2027, with WPI forecasting 5-area fed steer prices to reach $267/cwt in the second half of the year, 16 percent above year-ago levels. Feeder cattle prices appear to have peaked, with poor feedlot margins constraining price increases. WPI now forecasts relatively stable values in 2027 followi...
What You Need to Know Today: The U.S. dollar continued to strengthen Thursday as persistent inflation reinforced expectations for additional Federal Reserve interest rate hikes. Higher Treasury yields have helped support the dollar, potentially reducing the competitiveness of U.S. agricultural...
In yesterday’s WASDE, USDA reduced its overall red meat and poultry production forecast for 2026 as declines in beef and broiler output more than offset increases in pork and turkey production. Fourth-quarter beef production was revised downward because of slower fed cattle marketings and...
Key Takeaways: Dry bulk freight markets were stronger this week, but the rally was uneven and due to divergent dynamics across basins and vessel classes. Panamax markets were broadly higher, but Atlantic grain demand was primarily responsible while Asian activity was subdued. That trend...
