U.S. Cattle & Hogs Production Update – Mar ’15
According to USDA, U.S. commercial red meat production totaled 3.77 billion pounds in Feb ’15, up 3.1% YOY from the 3.65 billion pounds produced in Feb ’14 and up 1.1% MOM on a daily average basis from the 4.13 billion pounds produced in Jan ’15. The monthly YOY increase in red meat production was the largest in the past 14 months. Despite the YOY increase, ’14-’15 YTD annual U.S. red meat production remains down 2.6% YOY through the first five 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 6.1% YOY to February Record High Feb ’15 U.S. pork production of 1.96 billion pounds increased 6.1% YOY and 2.3% MOM on a daily average basis. The 6.1% YOY increase in monthly production was the largest on a percentage basis in over two years while production set a new high for the month of February. ’14-’15 YTD U.S. pork production is up 0.1% YOY through the first five months of the production season. Beef – YOY Production Increases for First Time in 14 Months Feb ’15 U.S. beef production of 1.79 billion pounds increased 0.2% YOY but declined 0.3% MOM on a daily average basis. The monthly increase in production was first experienced in the past 14 months. ’14-’15 YTD U.S. beef production remains down 5.2% YOY through the first five months of the production season.