U.S. Cattle & Hogs Production Update – Apr ’15
According to USDA, U.S. commercial red meat production totaled 4.06 billion pounds in Mar ’15, down 1.6% MOM on a daily average basis from the 3.73 billion pounds produced in Feb ’15 but up 6.5% YOY from the 3.81 billion pounds produced in Mar ’14. The monthly YOY increase in red meat production was the largest in the past 29 months. Despite the YOY increase, ’14-’15 YTD annual U.S. red meat production remains down 1.4% YOY through the first half of the production season. ’13-’14 annual U.S. red meat production finished down 2.8% YOY, which was the largest YOY annual percentage decline in ten years. Pork – Production Increases 13.9% YOY to New March Record High Mar ’15 U.S. pork production of 2.11 billion pounds declined 2.0% MOM on a daily average basis but remained higher YOY, finishing up 13.9%. The 13.9% YOY increase in monthly production was the largest on a percentage basis in nearly seven years, while production set a new record high for the month of March. ’14-’15 YTD U.S. pork production is up 2.0% YOY through the first half of the production season. Beef – YOY Production Declines for 18th Consecutive Month Mar ’15 U.S. beef production of 1.93 billion pounds declined 0.4% YOY and 1.4% MOM on a daily average basis to the lowest March figure experienced in 22 years. Monthly beef production has declined YOY for 18 consecutive months, finishing 4.6% lower on average over the period. ’14-’15 YTD U.S. beef production is down 4.7% YOY through the first half of the production season.