- Cattle market sees a demand driven market
- How is supply looking
- Reading restaurants are starting to open up
- Retail demand is amazing-packers having more money to spend
- End of month 16/18 have been lower
- Stock market collapse
- Hogs saw a big week-finally off its “tail”
- Big export business to China
- 230 million bushels of corn just this week to China
- Exports off the charts
- Bean see a bit of drag with harvest in Brazil
- A second day of higher grains
- South America where are they at production wise
- How do we compare with the contract high of last week?
- Where are we currently at?
- Basis talk
- What happened to the funds last week & how did they participate?
U.S. beef exports posted one of the best months on record in November, according to the U.S. Meat Export Federation. November was also a strong month for pork exports, which already surpassed the full-year volume and value records set in 2019.
November beef exports totaled 115,300 metric tons, up six percent from a year ago and the largest since July 2019. Export value climbed eight percent year-over-year to $707.5 million. November beef muscle cut exports were the third largest on record at 91,300 metric tons, valued at $630 million.
November pork export volume was steady year-over-year at 258,800 metric tons, with value down two percent to $697.5 million. Although China/Hong Kong remained the largest destination for U.S. pork in November, momentum continued to build in other markets, including Japan, Mexico and Central America.
January-November pork exports set new annual records for both volume and value. Pork muscle cut exports also shattered previous annual records, increasing 18 percent year-over-year to 2.29 million metric tons, valued at $6 billion.
Seven months into the 2020-2021 marketing year, USDA forecasts total wheat exports will reach 26.8 million metric tons which, if realized, would be two percent higher than the previous year.
U.S. Wheat Dot Org says that number would also be seven percent higher than the five-year average. As of December 24, U.S wheat commercial sales were nine percent ahead of last year’s pace at 20.6 million metric tons, led by hard red winter wheat, hard red spring wheat, and white wheat (soft and hard). Total hard red winter wheat sales of 7.1 million metric tons are three percent ahead of last year and seven percent above the five-year average.
Significantly increased exports to Nigeria and China offset reduced sales to Mexico, typically the largest market for hard red winter wheat. Total hard red spring wheat sales of 5.78 MMT are nine percent ahead of last year and four percent ahead of the five-year average. HRS sales to the Philippines and Japan are up five and six percent, respectively.
Total white wheat sales, represented mainly by soft white wheat, are 47 percent ahead of the previous year’s pace at 5.52 MMT and 49 percent of the five-year average.