U.S. Cattle & Hogs Production Update – Nov ’16
U.S. Cattle & Hogs Production Update – Nov ’16
According to USDA, U.S. commercial red meat production totaled 4.43 billion pounds in
Oct ’16, finishing up 0.2% MOM and 7.0% YOY when normalized for slaughter days. Total red meat production has increased on a YOY basis for 14 consecutive months through October while the MOM increase in total red meat production of 0.2% was greater than the ten year average September – October seasonal decline of 0.5%. ’15-’16 annual U.S. red meat production increased 3.3% YOY, finishing at an eight year high.
Pork – Production Increases to Record Seasonal High, Finishes up 5.7% YOY
Oct ’16 U.S. pork production of 2.20 billion pounds increased 1.2% MOM and 5.7% YOY when normalized for slaughter days, reaching a record high for the month of October. Oct ’16 total hogs slaughtered increased 6.3% YOY, more than offsetting a 0.4% YOY decline in average weights/head. ’14-’15 annual U.S. pork production finished up 4.6% YOY, which was a seven year high on a percentage basis. ’15-’16 annual U.S. pork production increased an additional 2.2% YOY, finishing at a record annual high.
Beef – Production Remains Higher on a YOY Basis for the 12th Consecutive Month
Oct ’16 U.S. beef production of 2.21 billion pounds declined 0.7% MOM but remained higher on a YOY basis when normalized for slaughter days, finishing up 8.4% to a five year high for the month of October. U.S. beef production has increased on a YOY basis over 12 consecutive months through October. The Oct ’16 total number of cattle slaughtered increased by 9.4% YOY, more than offsetting a 0.6% YOY decline in average weights/head. ’14-’15 annual U.S. beef production finished down 4.7% YOY however ’15-’16 annual U.S. beef production gained back a portion of the losses, finishing 4.4% higher on a YOY basis.
Pork – Production Increases to Record Seasonal High, Finishes up 5.7% YOY
Oct ’16 U.S. pork production of 2.20 billion pounds increased 1.2% MOM and 5.7% YOY when normalized for slaughter days, reaching a record high for the month of October. Oct ’16 total hogs slaughtered increased 6.3% YOY, more than offsetting a 0.4% YOY decline in average weights/head. ’14-’15 annual U.S. pork production finished up 4.6% YOY, which was a seven year high on a percentage basis. ’15-’16 annual U.S. pork production increased an additional 2.2% YOY, finishing at a record annual high.
Beef – Production Remains Higher on a YOY Basis for the 12th Consecutive Month
Oct ’16 U.S. beef production of 2.21 billion pounds declined 0.7% MOM but remained higher on a YOY basis when normalized for slaughter days, finishing up 8.4% to a five year high for the month of October. U.S. beef production has increased on a YOY basis over 12 consecutive months through October. The Oct ’16 total number of cattle slaughtered increased by 9.4% YOY, more than offsetting a 0.6% YOY decline in average weights/head. ’14-’15 annual U.S. beef production finished down 4.7% YOY however ’15-’16 annual U.S. beef production gained back a portion of the losses, finishing 4.4% higher on a YOY basis.