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

• Oct ’19 U.S. commercial red meat production increased 3.3% on a YOY basis, reaching a record high seasonal level. The YOY increase in total red meat production was the ninth experienced throughout the past ten months.
• Oct ’19 U.S. pork production increased 6.4% on a YOY basis, reaching a record high monthly level. The total number of hogs slaughtered increased 5.6% YOY throughout the month while average weights/head finished 0.7% higher.
• Oct ’19 U.S. beef production increased 0.3% on a YOY basis, reaching a 12 year seasonal high level. The YOY increase in beef production was the first experienced throughout the past three months. The total number of cattle slaughtered increased 0.6% YOY throughout the month, more than offsetting a 0.2% YOY decline in average weights/head.

Additional Report Details Total Red Meat – Production Reaches a Record High Seasonal Level, Finishes up 3.3% YOY According to USDA, Oct ’19 U.S. commercial red meat increased 0.3% MOM and 3.3% YOY when normalizing for slaughter days, finishing higher on a YOY basis for the ninth time in the past ten months. Total red meat production reached a record high seasonal level and finished as the second largest monthly production level on record. The MOM increase in total red meat production of 0.3% was a slight contraseasonal move when compared to the ten year average September – October seasonal decline of 0.5%. ’18-’19 annual red meat production increased 2.2% YOY, finishing at a record high level. Total 12-month rolling average red meat production finished above trendline for the 26^th consecutive month throughout Oct ’19. The Oct ’19 deviation from trendline increased to a ten year high level. Pork – Production Reaches a Record High Monthly Level, Finishes up 6.4% YOY Oct ’19 U.S. pork production increased 2.5% MOM and 6.4% YOY when normalizing for slaughter days, reaching a record high monthly level. The YOY increase in pork production was the ninth experienced throughout the past ten months. The Oct ’19 total number of hogs slaughtered increased 5.6% YOY throughout the month while average weights/head finished 0.7% higher YOY. The MOM increase in pork production of 2.5% was slightly greater than the ten year average September – October seasonal build of 1.8%. ’18-’19 annual pork production increased 3.9% YOY, finishing at a record high level. Beef – Production Increases YOY for the First Time in the Past Three Months, Finishes up 0.3% Oct ’19 U.S. beef production declined 2.0% MOM but finished 0.3% higher YOY when normalizing for slaughter days, increasing on a YOY basis for the first time in the past three months and reaching a 12 year seasonal high level. The Oct ’19 total number of cattle slaughtered increased 0.6% YOY throughout the month, more than offsetting a 0.2% YOY decline in average weights/head. The MOM decline in beef production of 2.0% was slightly smaller than the ten year average September – October seasonal decline of 2.6%. ’18-’19 annual beef production increased 0.6% YOY, finishing at a 16 year high level.