# CoBank: Animal protein performance to strengthen despite pressures

> CoBank says US meat and poultry prices are up about 30% from 2019 and 6% year over year, which is weighing on consumer demand. Red meat output has run about 3% lower year over year since February and is expected to fall further in the second half of 2023 as fed cattle supplies decline. Export demand for US animal protein remains firm.

- Date: 2023-04-03 · published 2023-04-03T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/36517-cobank-animal-protein-performance-to-strengthen-despite-pressures
- Commodities: [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Corn](https://feedsoft.ai/c/CORN.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Chicken](https://feedsoft.ai/c/CHICKEN.md), [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md)

## Why it matters

Shrinking red meat supply and lower slaughter weights tighten livestock availability and support cattle prices. Softer retail demand could cap gains later in the year.

## Read by commodity

- CORN: neutral
- HOGS: neutral
- CHICKEN: neutral
- FCATTLE: bullish ▲
- LCATTLE: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| LCATTLE | 2021-11-19 | [Rabobank releases ‘Global Animal Protein Outlook 2022’ \| MEAT+POULTRY](https://feedsoft.ai/events/44000-rabobank-releases-global-animal-protein-outlook-2022-meat-poultry.md) | +2.5% | +3.7% |
| LCATTLE | 2024-04-24 | [Rabobank Report: Beef and cattle demand begins the year historically strong, supply pressures remain prevalent - Beef Web](https://feedsoft.ai/events/30680-rabobank-report-beef-and-cattle-demand-begins-the-year-historically-strong.md) | +0.9% | +1.5% |
| LCATTLE | 2019-05-07 | [Texas has the largest cow herds in the US - Department of Animal Science](https://feedsoft.ai/events/59052-texas-has-the-largest-cow-herds-in-the-us-department-of-animal-science.md) | -2.5% | -5.4% |
| LCATTLE | 2026-03-10 | [USDA boosts 2026 milk production forecast as prices strengthen  \| Ag Proud](https://feedsoft.ai/events/20169-usda-boosts-2026-milk-production-forecast-as-prices-strengthen-ag-proud.md) | -0.4% | +4.9% |
| LCATTLE | 2024-07-18 | [US beef production in decline despite heavier cows \| Agriculture Dive](https://feedsoft.ai/events/29410-us-beef-production-in-decline-despite-heavier-cows-agriculture-dive.md) | +0.6% | -0.7% |
| CORN | 2018-11-15 | [Rabobank: Animal protein could face trade challenges again in 2019 \| 2018-11-15  \| MEAT+POULTRY](https://feedsoft.ai/events/61976-rabobank-animal-protein-could-face-trade-challenges-again-in-2019-2018-11-15.md) | -0.7% | +7.2% |
| CORN | 2023-11-30 | [Rabobank: Animal protein production growth will slow in 2024 \| Feed Strategy](https://feedsoft.ai/events/16138-rabobank-animal-protein-production-growth-will-slow-in-2024-feed-strategy.md) | +3.6% | +5.8% |
| CORN | 2021-11-17 | [Oil Futures Deepen Losses Despite US Crude, Product Draws](https://feedsoft.ai/events/11831-oil-futures-deepen-losses-despite-us-crude-product-draws.md) | +1.0% | +3.9% |

## Sources

- feedstuffs.com: https://www.feedstuffs.com/livestock-and-poultry-market-news/optimistic-poultry-outlook-but-avian-influenza-is-a-wild-card
- feedstuffs.com: https://www.feedstuffs.com/nutrition-and-health/cobank-animal-protein-performance-to-strengthen-despite-pressures

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.