U.S. Cattle & Hogs Production Update – Oct ’16
According to USDA, U.S. commercial red meat production totaled 4.32 billion pounds in
Sep ’16, finishing up 6.0% MOM and 4.4% YOY when normalized for slaughter days. Total red meat production has increased on a YOY basis for 13 consecutive months through September while the MOM increase in total red meat production of 6.0% was greater than the ten year average August – September seasonal increase of 4.6%. ’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 4.4% YOY
Sep ’16 U.S. pork production of 2.13 billion pounds increased 7.5% MOM and 4.4% YOY when normalized for slaughter days, reaching a record high for the month of September. Sep ’16 total hogs slaughtered increased 4.5% YOY while average weights/head were flat YOY. ’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 11th Consecutive Month
Sep ’16 U.S. beef production of 2.18 billion pounds increased 4.6% MOM and 4.5% YOY when normalized for slaughter days. U.S. beef production has increased on a YOY basis over 11 consecutive months through September. The Sep ’16 total number of cattle slaughtered increased by 5.8% YOY, more than offsetting a 0.9% 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.