According to USDA, U.S. commercial red meat production totaled 3.87 billion pounds in Jul ’16, finishing down 2.4% MOM but remaining up 4.2% YOY when normalized for slaughter days. Total red meat production has increased on a YOY basis for 11 consecutive months through July however the MOM decline in total red meat production of 2.4% was greater than the ten year average June – July seasonal decline of 1.8%. ’15-’16 YTD U.S. red meat production is up 2.8% YOY throughout the first ten months of the production season. Pork – Production Increases to Record Seasonal High, Finishes up 0.7% YOY Jul ’16 U.S. pork production of 1.82 billion pounds declined 3.3% MOM but remained 0.7% higher on a YOY basis when normalized for slaughter days, reaching a record high for the month of July. Jul ’16 total hogs slaughtered increased 1.5% YOY, more than offsetting a 0.7% 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 YTD U.S. pork production is up an additional 1.8% YOY throughout the first ten months of the production season. Beef – Production Remains Higher on a YOY Basis for the Ninth Consecutive Month Jul ’16 U.S. beef production of 2.02 billion pounds declined 1.5% MOM from the two and a half year high experienced during Jun ’16 but finished 7.7% higher on a YOY basis when normalized for slaughter days. U.S. beef production has increased on a YOY basis for nine consecutive months through July. The Jul ’16 total number of cattle slaughtered increased by 8.1% YOY while average weights/head finished 0.1% below the previous year. ’14-’15 annual U.S. beef production finished down 4.7% YOY however ’15-’16 YTD U.S. beef production has gained back a portion of the losses, finishing 3.9% higher on a YOY basis throughout the first ten months of the production season.