U.S. Cattle & Hogs Production Update – Feb ’17
According to USDA, U.S. commercial red meat production totaled 4.29 billion pounds in
Jan ’17, finishing 0.4% lower MOM but remained 1.3% above the previous year when normalized for slaughter days. Overall, total red meat production reached a nine year seasonal high for the month of January. Total red meat production has increased on a YOY basis over 24 consecutive months through January however the MOM decline in total red meat production of 0.4% was a contraseasonal move when compared to the ten year average December – January seasonal increase in production of 0.5%. ’15-’16 annual U.S. red meat production increased 3.3% YOY, finishing at an eight year high, while ’16-’17 YTD red meat production is up an additional 4.5% throughout the first third of the production season.
Pork – Production Declines on a YOY Basis for the First Time in Nine Months, Finishes Down 1.0%
Jan ’17 U.S. pork production of 2.15 billion pounds declined 0.4% MOM and 1.0% YOY when normalized for slaughter days. The YOY decline in U.S. pork production was the first experienced throughout the past nine months. Jan ’17 total hogs slaughtered declined 0.5% YOY while average weights/head finished 0.4% the previous year. ’15-’16 annual U.S. pork production increased 2.2% YOY, finishing at a record annual high, while ’16-’17 YTD pork production is up an additional 1.9% throughout the first third of the production season, despite the most recent YOY decline.
Beef – Production Reaches a Four Year Seasonal High, Finishes up 3.8% YOY
Jan ’17 U.S. beef production of 2.12 billion pounds declined 0.5% MOM but remained 3.8% above the previous year figures when normalized for slaughter days, finishing at a four year seasonal high. U.S. beef production has increased on a YOY basis over 15 consecutive months through January however the MOM decline in beef production of 0.5% was a contraseasonal move when compared to the ten year average seasonal increase in production of 1.7%. The Jan ’17 total number of cattle slaughtered increased by 4.6% YOY, more than offsetting a 0.8% YOY decline in average weights/head. ’15-’16 annual U.S. beef production rebounded 4.4% from the 11 year low experienced during the previous year while ’16-’17 YTD beef production is up an additional 7.3% throughout the first third of the production season.
Pork – Production Declines on a YOY Basis for the First Time in Nine Months, Finishes Down 1.0%
Jan ’17 U.S. pork production of 2.15 billion pounds declined 0.4% MOM and 1.0% YOY when normalized for slaughter days. The YOY decline in U.S. pork production was the first experienced throughout the past nine months. Jan ’17 total hogs slaughtered declined 0.5% YOY while average weights/head finished 0.4% the previous year. ’15-’16 annual U.S. pork production increased 2.2% YOY, finishing at a record annual high, while ’16-’17 YTD pork production is up an additional 1.9% throughout the first third of the production season, despite the most recent YOY decline.
Beef – Production Reaches a Four Year Seasonal High, Finishes up 3.8% YOY
Jan ’17 U.S. beef production of 2.12 billion pounds declined 0.5% MOM but remained 3.8% above the previous year figures when normalized for slaughter days, finishing at a four year seasonal high. U.S. beef production has increased on a YOY basis over 15 consecutive months through January however the MOM decline in beef production of 0.5% was a contraseasonal move when compared to the ten year average seasonal increase in production of 1.7%. The Jan ’17 total number of cattle slaughtered increased by 4.6% YOY, more than offsetting a 0.8% YOY decline in average weights/head. ’15-’16 annual U.S. beef production rebounded 4.4% from the 11 year low experienced during the previous year while ’16-’17 YTD beef production is up an additional 7.3% throughout the first third of the production season.