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livestock

Livestock Round Up: WASDE Shows Meat and Poultry Recovering Ahead of Schedule

Today’s WASDE showed USDA’s red meat and broiler production forecast up from last month reflecting a faster than expected recovery from slaughter plant shutdowns, backlogs and reconfigured operations. Slaughter was down the last week of May due to Memorial Day, but last week rebounded by more than 25 percent for both hogs and cattle. The WASDE revised last month’s total beef, pork and broilers production forecast for the year to be slightly above (0.05 percent) 2019. The 2021 forecast is 2.6 percent above the 2020 projected output.  Cattle slaughter is still 6.7 percent below last year’s pace year-to-date, but beef production is down less at 4.4 percent based on heavier weights. Total weekly cattle slaughter...

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feed-grains soy-oilseeds wheat

Summary of Futures

Dec 20 Corn closed at $3.365/bushel, down $0.0825 from yesterday's close.  Sep 20 Wheat closed at $5.2475/bushel, down $0.0925 from yesterday's close.  Nov 20 Soybeans closed at $8.7525/bushel, down $0.155 from yesterday's close.  Dec 20 Soymeal closed at $291.7/short ton, down $...

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