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A University of Missouri mid-year baseline outlook says U.S. meat and dairy supplies are growing, with per capita beef, pork, chicken and turkey up nearly 19 pounds from 2014 and a further increase expected in 2019. Export demand has grown in 2018, but trade and tariff uncertainty could leave supplies building at home.
Farm prices are projected to decline for fed cattle, hogs and chickens.
Growing herds and output, combined with uncertain export outlets, point to lower farm-level prices for cattle, hogs and chicken. Weaker meat prices also shift demand toward feed-intensive output, though the net effect on feed is mixed.
provisioneronline.comIndustry NewsSep 13, 2018After 144 past bearish report events, Live Cattle moved a median -0.1% over 5 sessions (49% higher; middle half -1.1% to +0.9%), and +0.5% over 20.
After 159 past bearish report events, Lean Hogs moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +1.0% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
