CME: Results of 'Meat Production, Distribution and Income' Report
via The Cattle Site - 03 June 2019
US - USDA NASS released "Meat Production, Distribution and Income" last Thursday for 2018, along with the Final Estimates from 2013-2017. Among the reported numbers is cash receipts, value of home consumption and gross receipts, reports Steiner Consulting Group, DLR Division, Inc.
Sheep and lamb values were discontinued from this report since 2012, leaving only cattle and calves and hogs and pigs. Nearly 100 billion pounds of pork and beef were marketed in 2018, 40 percent of which was pork production. Over 75 percent of the cash receipts value was generated by cattle and calves. Total gross receipts for these two industries was $88.6 billion in 2018.
Cattle and calves cash receipts data dates back to 1979. The highest annual value ever reported was $81.1 billion in 2014, brought on by very tight cattle inventory following several severe drought years and boosted by the highest cattle prices on record.
Prior to 2009, cash receipts for cattle and calves had never broken $50 billion and the highest was $49.8 billion in 2007. After breaking the $50 billion mark in 2010, cash receipts in the cattle industry have averaged $67.2 billion per year over the last 9 years.
The range though during those years has been quite wide, from $51.2 billion to the record large $81.1 billion. Last year, was the fourth largest cash receipts value in the last 10 years.
The value of home consumption, defined as the total value of on-farm and custom slaughter consumed on the farm where it was produced, has had several inflection points since 1979. Prior to 1985 the value of home consumption for cattle and calves was worth between $500 to $700 million but steadily declined from 1979 to 1996...
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