Key Takeaways:
Drought and changes to the multi-year trend in cow slaughter and retention have the potential to dramatically alter beef trim supplies and pricing, and WPI specifically models three different drought scenarios for fall 2026. Based on our models, WPI expects 90 percent lean beef trim prices to fall 7 percent by mid-November and close the year down 5 percent from current values. This means the U.S.’s new 300,000 MT beef import policy comes at a time when beef markets are already sensitive to supply and price pressures, thus escalating the chances for outsized and market-distorting impacts.
The Details: Beef prices have been in the news a lot lately and have even drawn presidential ire and an unusually intense focu...
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...
