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U.S. Cattle & Hogs Production Update – Mar ’21

  • March 26, 2021
  • by Belinda Przybylski

Executive Summary

U.S. cattle & hog production figures provided by the USDA were recently updated with values spanning through Feb ’21. Highlights from the updated report include:

  • Feb ’21 U.S. commercial red meat production increased 0.8% on a YOY basis, reaching a record high seasonal level.
  • U.S. pork production increased 0.5% on a YOY basis throughout Feb ’21, reaching a record high seasonal level. A 0.5% YOY decline in the total number of hogs slaughtered was more than offset by a 1.0% YOY increase in average weights per head.
  • U.S. beef production increased 1.1% on a YOY basis throughout Feb ’21, reaching a record high seasonal level. The number of cattle slaughtered increased 0.1% YOY while average weights per head increased 1.0% YOY.

Additional Report Details

Total Red Meat – Production Reaches a Record High Seasonal Level, up 0.8% YOY

According to the USDA, Feb ’21 U.S. commercial red meat production increased 0.8% on a YOY basis when normalizing for slaughter days, reaching a record high seasonal level. The YOY increase in total red meat production was the first experienced throughout the past three months.

’19-’20 annual red meat production finished 1.5% higher on a YOY basis, reaching a record high level for the fourth consecutive year. ’20-’21 YTD red meat production has increased by an additional 0.3% on a YOY basis throughout the first five months of the production season.

Total 12-month rolling average red meat production remained above trendline for the 42nd consecutive month throughout Feb ’21, although the most recent deviation from trendline remained significantly below the record high level experienced throughout Mar ’20.

Pork – Production Reaches a Record High Seasonal Level, up 0.5% YOY

Feb ’21 U.S. pork production increased 0.5% on a YOY basis when normalizing for slaughter days, reaching a record high seasonal level. The Feb ’21 total number of hogs slaughtered declined 0.5% YOY throughout the month however average weights per head finished 1.0% higher YOY. The number of hogs slaughtered has declined on a YOY basis over six consecutive months through Feb ’21.

’19-’20 annual pork production finished 3.3% higher on a YOY basis, reaching a record high level for the sixth consecutive year. ’20-’21 YTD pork production has increased by an additional 0.2% on a YOY basis throughout the first five months of the production season.

Beef – Production Reaches a Record High Seasonal Level, up 1.1% YOY

Feb ’21 U.S. beef production increased 1.1% on a YOY basis when normalizing for slaughter days, reaching a record high seasonal level. The Feb ’21 total number of cattle slaughter increased 0.1% YOY throughout the month while average weights per head finished 1.0% higher YOY.

’19-’20 annual beef production declined 0.2% on a YOY basis from the 16 year high level experienced throughout the previous production season. ’20-’21 YTD beef production has rebounded by 0.5% on a YOY basis throughout the first five months of the production season.

U.S. Livestock Cold Storage Update – Mar ’21
Atten Babler Meat FX Indices – Apr ’21
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