October WASDE Report
via KTIC (NE) - October 9, 2020
OMAHA (DTN) ó USDA on Friday released its October Crop Production and World Agricultural Supply and Demand Estimates (WASDE) reports...
USDA increased expected beef supply projections to 27.2 billion pounds, an increase of 90 million pounds from September estimates. Total use of beef is expected to increase by 255 million pounds during the month of October to 27.7 billion pounds.
Pork supplies are estimated to decrease 80 million pounds during the month of October to 28.2 billon pounds. Export expectations of pork decreased by 200 million pounds in the October estimate at 7.3 billion pounds, moving total use to 21.8 billion pounds, based on increased domestic disappearance in the market.
Estimated steer prices increased to $108.71 per cwt compared to September projections of $107.3 per cwt.
Barrow and gilt prices posted the most significant projected price increase moving to $43.25 per cwt in Octobers estimate from Septemberís target of $39.40 per cwt.