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USDA's February 23 livestock and poultry outlook projects higher beef, pork and broiler production in 2018, with beef output forecast at 27.7 billion pounds, up 5.9 percent. Exports of beef, pork and poultry are also expected to rise.
Bigger meat supplies from expanding herds and slaughter pressure livestock prices, while relatively favorable feed costs encourage heavier carcass weights and feedlot expansion, supporting demand for feed grains.
wlj.netChris Clayton, DTN ag policy editorMar 5, 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.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
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.
