Nationally, as of May 1, 2019, hay stocks declined year-over-year. For more discussion, see the new Livestock Monitor newsletter article below.
Note that this graphic incluses LMIC's preliminary forecast for January 1, 2020.
Year-over-year declines in the number of lambs on-feed and quickly erroding frosen stocks of lamb have together translated in a strong spring seasonal price increase in slaughter animal prices.
See the LMIC's Livestock Monitor newsletter artice below for details and some thoughts on prices for this summer.
Wholesale chicken prices have posted an impressive rally since late last year. Favorable profit margins will support expansion.
See the new Livestock Monitor article below for additional details.
USDA agencies (ERS and FAS) recently released the monthly U.S. export and import data for March. U.S. pork and beef exports were below 2018's.
For more March graphics on cattle, beef, etc., from the main menu bar select "Key Graphs" and then "International."
High prices rationed hay disappearance between December 1 to May 1 to the lowest level since 2013/14 at 64 million tons. However, that still was not enough to prevent a year-over-year drop in the year ending hay inventory. As of May 1, total all hay inventories fell to their lowest level since 2014, and the second lowest on record (records date back to 1960). USDA-NASS reported in the May Crop Production report May 1 Hay stocks to be 14.91 million tons, down 3% from the prior year.
Year-over-year declines in the number of lambs on-feed and quickly eroding frozen stocks of lamb have together translated into a strong spring seasonal increase in slaughter animal prices. In early May, the national weekly formula price of slaughter lambs was more than 7% above a year ago. If recent trends continue, the spring market rally will be much bigger than last year’s.
Chicken prices at the wholesale level have posted an impressive, if not astounding rally since late last year. The breast meat price quote in the Northeast by AMS during December was 88.72 cents per pound, up slightly from the lowest monthly average price in modern times of 85.30 cents. For the last month, breast meat prices have been holding close to $1.30 per pound. Similarly, wing prices ended last year around $1.45, but have crested the $2.00 mark on occasion during April and have been holding above $1.90 without a struggle.
In The Cattle Markets