PROTEIN PRODUCTION: Total red meat and poultry production in 2022 is projected at 106.665 billion pounds, down 168 million pounds from 2021 (VIEW REPORT)
WASDE
PROTEIN PRODUCTION: Milk production in 2022 is projected at 227.7 billion pounds, up 1.5 billion pounds from 2021 (VIEW REPORT)
WASDE
MEATBOARD: Boxed Beef Choice: $284.31 (+1.45); Pork Carcass: $89.07 (-6.21); Chicken Breast: $228.34 (+1.40) (Fri pm)
Cash Prices
CME LIVESTOCK: Live Cattle: $142.125 (+1.15); Feeder Cattle: $166.375 (-0.35) Hogs: $88.45 (+3.125); Milk: $22.20 (+0.00)
US Cattle Report by National Beef Wire
CME GRAINS: Corn: $5.9625 (+8.75); Soybeans: $13.6975 (-7.50); Wheat: $7.415 (-5.25); Cotton: $119.70 (+2.86)
National Corn Wire
STOCK UPDATE: Dow 30: 35,911.81 (-201.81); Nasdaq: 14,893.75 (+86.94); S&P 500: 4,662.85 (+3.82)
Market Update
BEEF PRODUCTION: Weekly production reported at 521.9 million pounds, up 0.4% from last week, down 5.2% from last year (EWMP)
US Cattle Report by National Beef Wire
DROUGHT MONITOR: Western storms have boosted snowpack and reduced drought. California is almost free of Extreme Drought (D3) (VIEW REPORT)
Weather
Weekly red meat production reported at 1.05 billion pounds, down 3.1% from last week, down 7.9% from last year (EWMP)
Market Update
LIVESTOCK, DAIRY & POULTRY OUTLOOK (WASDE): The beef production estimate is raised on higher non-fed cattle slaughter and heavier average carcass weights. Pork production is reduced on the slower pace of slaughter in late 2021 (VIEW REPORT)
WASDE
CORN EXPORTS: Net sales of 457,700 MT for 2021/2022 were up 79 percent from the previous week, but down 59 percent from the prior 4-week average (VIEW REPORT)
National Corn Wire
BEFORE THE BELL: U.S. stock index futures were little changed, ahead of jobless claims numbers and as investors await the corporate quarterly earnings season to start (Reuters)
Market Update
Controlling inflation that has spiked to nearly a 40-year high is the "most important task" facing the Federal Reserve right now, Fed Governor Lael Brainard said in prepared remarks for a Senate hearing on her nomination to become vice chair of the U.S. central bank (Reuters)
Market Update
AG WEATHER SUMMARY: December 2021 featured some notable weather extremes. In fact, monthly temperatures averaged at least 10°F above normal at numerous locations from the southern Plains to the Mississippi Delta, setting records for the warmest-ever December (VIEW REPORT)
Weather
SCHWIETERMAN CATTLE: Cutouts were higher again, with choice +2.18 and select +2.13. Cash trade saw some modest action in the south, with trade as high as $137 (VIEW REPORT)
US Cattle Report by National Beef Wire