Executive Summary U.S. livestock slaughter figures provided by USDA were recently updated with values spanning through Jun ‘19. Highlights from the updated report include:

• Jun ’19 U.S. commercial red meat production increased 5.5% YOY to a record high seasonal level for the month of June, finishing higher on a YOY basis for the 51^st time in the past 53 months. The Jun ’19 YOY increase in red meat production was the largest experienced throughout the past 14 months on a percentage basis.
• Jun ’19 U.S. pork production increased 10.6% YOY to a record high seasonal level for the month of June, finishing higher on a YOY basis for the 26^th time in the past 29 months. The Jun ’19 YOY increase in pork production was the largest experienced throughout the past 46 months on a percentage basis.
• Jun ’19 U.S. beef production increased 1.0% YOY to an eight year seasonal high level for the month of June, finishing higher on a YOY basis for the 42^nd time in the past 44 months.

Additional Report Details Total Red Meat – Production Reaches a Record Seasonal High Level, Finishes up 5.5% YOY According to USDA, Jun ’19 U.S. commercial red meat increased 2.1% MOM and 5.5% YOY when normalizing for slaughter days, reaching a record seasonal high level for the month of June. The YOY increase in red meat production was the 51^st experienced throughout the past 53 months and the largest experienced throughout the past 14 months on a percentage basis while the MOM increase in red meat production of 2.1% was greater than the ten year average May – June seasonal build of 0.4%. ’17-’18 annual red meat production increased 3.1% YOY, finishing at a record high level, while ’18-’19 YTD production volumes have increased an additional 2.2% throughout the first three quarters of the production season. Pork – Production Reaches a Record Seasonal High Level, Finishes up 10.6% YOY Jun ’19 U.S. pork production increased 2.3% MOM and 10.6% YOY basis when normalizing for slaughter days, reaching a record high seasonal level for the month of June. The YOY increase in pork production was the 26^th experienced throughout the past 29 months and the largest experienced throughout the past 46 months on a percentage basis while the MOM increase in pork production of 2.3% was a contraseasonal move when compared to the ten year average May – June seasonal decline of 2.0%. The Jun ’19 total number of hogs slaughtered increased 8.6% YOY throughout the month while average weights/head increased 1.8% on a YOY basis. ’17-’18 annual pork production increased 3.1% YOY, finishing at a record high level, while ’18-’19 YTD production volumes have increased an additional 3.6% throughout the first three quarters of the production season. Beef – Production Reaches an Eight Year Seasonal High Level, Finishes up 1.0% YOY Jun ’19 U.S. beef production increased 1.9% MOM and 1.0% YOY when normalizing for slaughter days, reaching an eight year seasonal high level for the month of June. The YOY increase in beef production was the 42^nd experienced throughout the past 44 months however the MOM increase in beef production of 1.9% was smaller than the ten year average May – June seasonal build of 2.6%. The Jun ’19 total number of cattle slaughtered increased 1.8% YOY throughout the month, more than offsetting a 0.6% YOY decline in average weights/head. ’17-’18 annual beef production increased 3.2% YOY, finishing at a 15 year high level, while ’18-’19 YTD production volumes have increased an additional 0.8% throughout the first three quarters of the production season.