U.S. Cattle & Hogs Production Update – May ’15
According to USDA, U.S. commercial red meat production totaled 4.02 billion pounds in Apr ’15, up 2.1% MOM on a daily average basis from the 4.06 billion pounds produced in Mar ’15 but up 1.0% YOY from the 3.98 billion pounds produced in Apr ’14. YOY increases in red meat production have been experienced in each of the past three months, with total production up 3.1% over the period. Despite the recent gains, ’14-’15 YTD annual U.S. red meat production remains down 1.2% YOY through the first seven months 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 8.2% YOY to New April Record High Apr ’15 U.S. pork production of 2.07 billion pounds increased 8.2% YOY and 1.1% MOM on a daily average basis, setting a new record high for the month of April. Pork production has increased YOY in five consecutive months, with total production up 6.0% in total over the period. ’14-’15 YTD U.S. pork production is up 2.8% YOY through the first seven months of the production season. Beef – YOY Production Declines for 16th Consecutive Month Apr ’15 U.S. beef production of 1.93 billion pounds increased 3.2% MOM on a daily average basis but remained lower on a YOY basis, finishing down 5.6% to the lowest April figure experienced in ten years. Monthly beef production has declined YOY for 16 consecutive months, finishing 5.2% lower on average over the period. ’14-’15 YTD U.S. beef production is down 5.0% YOY through the first seven months of the production season.