U.S. Cattle & Hogs Production Update – Jun ’15
According to USDA, U.S. commercial red meat production totaled 3.81 billion pounds in May ’15, down 8.3% MOM on a daily average basis from the 4.02 billion pounds produced in Apr ’15 and down 3.7% YOY from the 3.95 billion pounds produced in May ’14. The YOY decline in commercial red meat production was the first experienced in the past four months. ’14-’15 YTD annual U.S. red meat production is down 1.5% YOY through the first eight months of the production season. ’13-’14 annual U.S. red meat production finished down 2.8% YOY, which was the largest YOY annual percentage decline in ten years. Pork – Production Declines Significantly MOM to Normal Seasonal Levels May ’15 U.S. pork production of 1.86 billion pounds remained higher on a YOY basis, finishing up 0.2%, but declined significantly MOM, falling 12.8% on a daily average basis. Although production remained higher on a YOY basis, the sharp decline towards normal seasonal levels resulted in production falling below the three year average production for the first time in six months. Total pork production was 8.6% higher than three year average production levels over the prior three months. May ’15 total hogs slaughtered increased 1.5% YOY, however average weights/head declined 1.0% YOY. Pork production has remained higher on a YOY basis for six consecutive months, with total production up 5.1% in total over the period. ’14-’15 YTD U.S. pork production is up 2.5% YOY through the first eight months of the production season. Beef – YOY Production Declines for 17th Consecutive Month May ’15 U.S. beef production of 1.92 billion pounds declined 7.1% YOY and 3.4% MOM on a daily average basis, finishing down 5.6% to the lowest May figure experienced in 22 years. May ’15 average weights/head increased 2.5% YOY, however total cattle slaughtered declined by 9.8% YOY. Monthly beef production has declined YOY for 17 consecutive months, finishing 5.3% lower on average over the period. ’14-’15 YTD U.S. beef production is down 5.2% YOY through the first eight months of the production season.