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U.S. Cattle & Hogs Production Update – Jul ’20

  • July 24, 2020
  • by Belinda Przybylski
Executive Summary U.S. cattle & hog production figures provided by the USDA were recently updated with values spanning through Jun ’20. Highlights from the updated report include:
  • Jun ’20 U.S. commercial red meat production rebounded sharply from the previous month while finishing 2.8% higher on a YOY basis, reaching a record high seasonal level.
  • U.S. pork production increased 5.8% on a YOY basis during Jun ’20, reaching a record high seasonal level. The total number of hogs slaughtered increased 4.9% YOY throughout the month while average weights/head increased 1.1% YOY.
  • Jun ’20 U.S. beef production rebounded from the previous month but remained 0.1% lower on a YOY basis. The total number of cattle slaughtered declined 4.0% YOY throughout the month, more than offsetting a 4.0% increase in average weights/head.
Additional Report Details Total Red Meat – Production Rebounds to a Record High Seasonal Level, Finishes up 2.8% YOY According to the USDA, Jun ’20 U.S. commercial red meat rebounded sharply from the previous month while finishing 2.8% higher on a YOY basis, reaching a record high seasonal level. Total red meat production had reached a 14 year low level throughout the month of April prior to rebounding throughout the most recent two months of data. The MOM increase in total red meat production of 19.4% was greater than the ten year average May – June seasonal build of 0.7%. ’18-’19 annual red meat production increased 2.2% on a YOY basis, finishing at a record high level, while ’19-’20 YTD red meat production has increased by an additional 1.0% throughout the first three quarters of the production season. Total 12-month rolling average red meat production remained above trendline for the 34th consecutive month throughout Jun ’20, although the Jun ’20 deviation from trendline continued to decline from the record high level experienced throughout Mar ’20. Pork – Production Rebounds to a Record High Seasonal Level, Finishes up 5.8% YOY Jun ’20 U.S. pork production rebounded sharply from the previous month while finishing 5.8% higher on a YOY basis when normalizing for slaughter days, reaching a record high seasonal level. The YOY increase in pork production was the first experienced throughout the past three months. The Jun ’20 total number of hogs slaughtered increased 4.9% YOY throughout the month while average weights/head finished 1.1% higher YOY. The MOM increase in pork production of 19.7% was a contraseasonal move when compared to the ten year average May – June seasonal decline of 1.9%. ’18-’19 annual pork production increased 3.9% on a YOY basis, finishing at a record high level, while ’19-’20 YTD pork production has increased by an additional 3.0% throughout the first three quarters of the production season. Beef – Production Rebounds Month-Over-Month but Remains 0.1% Lower on a YOY Basis Jun ’20 U.S. beef production rebounded sharply from the previous month but remained slightly lower on a YOY basis, down 0.1%. The YOY decline in beef production was the third experienced in a row. The Jun ’20 total number of cattle slaughtered declined 4.0% YOY throughout the month, more than offsetting a 4.0% increase in average weights/head. The MOM increase in beef production of 19.3% was significantly greater than the ten year average May – June seasonal increase of 3.0%, however. ’18-’19 annual beef production increased 0.6% on a YOY basis, finishing at a 16 year high level, however ’19-’20 YTD beef production has declined 1.0% throughout the first three quarters of the production season.
U.S. Livestock Cold Storage Update – Jul ’20
U.S. Cattle on Feed Update – Jul ’20
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