The latest monthly Cold Storage report counted 410.3 million lbs. of beef in frozen warehouses at the end of June. That was -11 million from the prior month. This was a steeper drop than the five year average of -5 for that month. Given lower production, that is reasonable and likely not market moving.
Continue reading →Light fund short covering may be continuing, strong exports, active resistance in the 420s
Continue reading →Today's weekly release of the Actual Slaughter report detailed meat production statistics for the second week of July.
Continue reading →Weekly beef export sales came to 13,383 tonnes last week. This was -37% vs. last year. Year to date sales are -7% vs. last year. Sales are on USDA's current goal of -7%. However, it must be noted the recent trend of -37%, -26% the week before and -16% the week before are lightly concerning.
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