Livestock Marketing Information Center

Current Situation and Analysis
Last Updated: 8/15/2016
USDA ESTIMATES BIGGER U.S. CORN AND SOYBEAN CROPS

The Crop Production report released on Friday (August 5th) by USDA-NASS estimated that this year, for the first time in history, U.S. corn output will exceed 15 billion bushels. Also, 2016 will be the first soybean crop over 4 billion bushels. Those production levels significantly exceeded the average of pre-report estimates.  If realized, those production levels will keep feedstuff prices on the defensive and below what USDA forecast just one month ago.


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INTERNATIONAL UPDATE: BEEF, PORK, AND CHICKEN

USDA’s Economic Research Service published June trade numbers on Monday August 8th. Those numbers are calculated using data from the U.S. Department of Commerce, Bureau of the Census, Foreign Trade Division.  Across the meat and poultry sectors, U.S. trade has been a mixed bag of results so far this year.


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U.S. LIVE ANIMAL IMPORTS

U.S. feeder cattle imports from Mexico were rather small in May and June of this year, compared to historical levels. For the first half of 2016, feeder cattle imports from Mexico were 16% below 2015’s (down 98,000 head). This could indicate herd rebuilding in Mexico and definitely reflects lower U.S. cattle prices.  Lower imports compared to a year ago are expected to continue for the balance of 2016.


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