Livestock analyst Jim Wyckoff stories on international protein information
13 July 2024
10 minute learn
Weekly USDA beef, pork export gross sales
Beef: Internet US gross sales of 8,300 MT for 2024–a marketing-year low–were down 46 p.c from the earlier week and 43 p.c from the prior 4-week common. Will increase had been primarily for South Korea (2,500 MT, together with decreases of 400 MT), China (1,900 MT, together with decreases of 100 MT), Japan (1,400 MT, together with decreases of 400 MT), Canada (800 MT, together with decreases of 100 MT), and Taiwan (400 MT, together with decreases of 200 MT). Exports of 14,300 MT had been down 11 p.c from the earlier week and 13 p.c from the prior 4-week common. The locations had been primarily to Japan (3,800 MT), South Korea (2,600 MT), China (2,000 MT), Mexico (1,800 MT), and Taiwan (1,800 MT).
Pork: Internet US gross sales of 26,500 MT for 2024 had been down 55 p.c from the earlier week and 29 p.c from the prior 4-week common. Will increase had been primarily for Mexico (9,000 MT, together with decreases of 200 MT), Japan (6,400 MT, together with decreases of 100 MT), China (3,400 MT, together with decreases of 100 MT), Colombia (1,700 MT, together with decreases of 100 MT), and South Korea (1,700 MT, together with decreases of 100 MT). Exports of 32,400 MT had been up 8 p.c from the earlier week and from the prior 4-week common. The locations had been primarily to Mexico (14,100 MT), China (4,300 MT), Japan (3,400 MT), South Korea (2,500 MT), and Canada (2,200 MT).
US wholesale beef market weakens
Wholesale beef costs declined for a second straight day on Wednesday, as Alternative fell $1.61 to $324.05 and Choose dropped 37 cents to $303.94. Nonetheless, the worth drop the previous two days has triggered a mixed load depend of 286, signaling there’s nonetheless robust retailer demand below the market. Seasonally, beef costs weaken throughout summer season, although there are indications retailers plan to maintain actively that includes beef.
Tyson Meals pronounces sale of its poultry complicated in Vienna, Georgia
Tyson offered to Home of Raeford Farms, a family-owned hen merchandise producer. This transfer is a part of Tyson’s ongoing efforts to streamline operations and enhance profitability in its meat and poultry enterprise. Home of Raeford Farms said that poultry processing will proceed on the facility, using the present workforce. This choice ought to assist preserve employment within the space. Home of Raeford Farms is without doubt one of the 10 largest hen producers in the US. The corporate operates poultry grow-out operations and processing services in 4 southeastern states. It’s recognized for its dedication to moral and environmentally accountable practices.Â
Singapore approves 16 insect species, together with crickets, silkworms, and the western honey bee, as secure for human consumption
The aim is to advertise an alternate, eco-friendly protein supply. Bugs are already generally eaten in components of Asia, Africa, and Mexico. Whereas the European Fee and Australia have permitted a couple of insect species, the U.S. has not formally acknowledged bugs as meals. Singapore, a pioneer in different proteins, was the primary nation to approve lab-grown meat in 2020.
Examine: H5N1 not simply unfold through air
The H5N1 virus infecting U.S. dairy cows isn’t simply transmitted by way of the air amongst ferrets, that are the most effective small mammal for finding out influenza virus an infection and transmission, a examine by researchers on the College of Wisconsin-Madison confirmed. The examine additionally confirmed the virus, remoted from the milk of an contaminated cow in New Mexico, made each mice and ferrets sick after publicity to the unpasteurized milk. A virus that may unfold simply by way of the air between people would pose a higher pandemic risk than H5N1 at the moment does.
US beef, pork exports sluggish throughout Might
The US exported 258.9 million lbs. of beef throughout Might, down 589,000 lbs. (0.2%) from April and seven.8 million lbs. (2.9%) lower than final yr. Pork exports totaled 584.7 million lbs., down 71.2 million lbs. (10.9%) from April and 35.0 million lbs. (5.7%) lower than final yr. Based on the U.S. Meat Export Federation, the worth of beef exports totaled $902.4 million in Might, the best since June 2023, whereas the worth of Might pork exports at $715.8 million fell 2%. By means of the primary 5 months of the yr, beef exports totaled 1.251 billion lbs., down 64.5 million lbs. (4.9%) from the identical interval final yr. Pork shipments by way of Might reached 3.043 billion lbs., up 171.0 million lbs. (6.0%) versus the primary 5 months of 2023.
China’s sow herd declines, slaughter builds
China’s sow herd totaled 39.96 million head on the finish of Might, in keeping with the ag ministry, down 6.2% from final yr. Hog slaughter in the course of the first 5 months of the yr rose 0.8% to 136.04 million head.
USDA month-to-month US dairy report highlights
Might 2024 Highlights Whole cheese output (excluding cottage cheese) was 1.21 billion kilos, 0.7 p.c above Might 2023 and a pair of.1 p.c above April 2024. Italian kind cheese manufacturing totaled 505 million kilos, 4.4 p.c above Might 2023 and barely above April 2024. American kind cheese manufacturing totaled 488 million kilos, 5.7 p.c beneath Might 2023 however 4.5 p.c above April 2024. Butter manufacturing was 204 million kilos, 4.0 p.c above Might 2023 however 1.6 p.c beneath April 2024. Dry milk merchandise (comparisons in share with Might 2023) Nonfat dry milk, human – 171 million kilos, down 17.2 p.c. Skim milk powder – 41.9 million kilos, down 10.1 p.c. Whey merchandise (comparisons in share with Might 2023) Dry whey, complete – 76.6 million kilos, down 6.3 p.c. Lactose, human and animal – 93.0 million kilos, down 2.7 p.c. Whey protein focus, complete – 42.5 million kilos, down 3.2 p.c. Frozen merchandise (comparisons in share with Might 2023) Ice cream, common (laborious) – 65.0 million gallons, up 2.3 p.c. Ice cream, lowfat (complete) – 40.3 million gallons, down 6.1 p.c. Sherbet (laborious) – 1.73 million gallons, down 10.6 p.c. Frozen yogurt (complete) – 4.32 million gallons, up 0.1 p.c.
Weekly USDA dairy report
CME GROUP CASH MARKETS (7/5) BUTTER: Grade AA closed at $3.1325. The weekly common for Grade AA is $3.1356 (+0.0516). CHEESE: Barrels closed at $1.9025 and 40# blocks at $1.9000. The weekly common for barrels is $1.8844 (-0.0126) and blocks $1.9000 (+0.0075). NONFAT DRY MILK: Grade A closed at $1.1800. The weekly common for Grade A is $1.1775 (-0.0080). DRY WHEY: Further grade dry whey closed at $0.4925. The weekly common for dry whey is $0.4906 (+0.0076).
BUTTER HIGHLIGHTS: Home butter demand is blended. Within the East, demand is barely weaker. Within the Central, demand is forward of some stakeholder expectations. Within the West, retail demand varies from regular to lighter, and meals service demand is lighter. Cream availability is mostly tightening throughout the nation not too long ago. Nonetheless, the mid-week vacation is anticipated to provide some quickly looser cream availability for the week. Amongst butter producers, each regular and lighter churning paces are reported. In some instances, churn upkeep initiatives are at the moment going down or scheduled to happen quickly. Bulk butter overages vary from minus 4 to 10 cents above market, throughout all areas.
CHEESE HIGHLIGHTS: Cheese manufacturing schedules are seasonally regular all through the U.S. Contacts within the East share tightening farm degree milk outputs have restricted the quantity of milk obtainable for Class III processing. The Independence Day vacation freed up some milk provides, although, and cheese manufacturing schedules are according to latest weeks. Cheesemakers within the Central area relay regular 5[1]day manufacturing schedules. Cheese demand ranges from regular to stronger within the area. Contacts within the West share regular cheese manufacturing schedules. Cheese demand is according to cheese availability in the intervening time. Contacts be aware present home cheese value factors aren’t aggressive with worldwide costs, and export demand is trending regular to lighter.
FLUID MILK: Milk manufacturing is seasonally declining week to week. The West area and Midwest area have had extra pronounced decreases in milk output. The East area is seeing lighter milk output with small pockets of regular manufacturing. Cream spot load availability is regular throughout the East and West areas however has continued to slip within the Midwest, much like milk. The southern half of the U.S. and the West area are experiencing the warmth of the summer season, whereas the higher Midwest and East are wading by way of wetter situations affecting manufacturing and availability. Ice cream manufacturing is lively. Demand for cream and condensed skim milk is regular within the East and Midwest. The West is seeing a bit extra demand for spot a great deal of cream and condensed skim milk. Cream multiples for all Courses are 1.24 – 1.41 within the East, 1.15 – 1.35 within the Midwest, and 1.08 – 1.32 within the West.
DRY PRODUCTS: Low/medium warmth nonfat dry milk (NDM) costs had been blended in all areas. NDM demand from Mexican importers has but to assemble steam, however availability isn’t plentiful. Dry buttermilk costs had been regular to larger. Producers of dry buttermilk within the West relayed restricted spot market availability, whereas demand notes are blended. Dry complete milk costs held regular on quiet buying and selling and restricted manufacturing/provides. Dry whey costs had been blended within the Central area, however edged larger in each the East and West. Dry whey processing is predicted to develop into lighter as milk entry is predicted to proceed to lower. Whey protein focus (WPC) 34% costs had been regular to decrease. Processors and merchants report quiet home demand for spot a great deal of WPC 34%. Lactose costs had been blended. Lactose processing schedules are regular, whereas inventories differ from one plant to the subsequent. Acid and rennet casein costs had been unchanged, as spot a great deal of rennet can be found whereas acid casein hundreds are tighter.
INTERNATIONAL DAIRY MARKET NEWS
WEST EUROPE: Milk deliveries within the EU-27 in April had been up in comparison with final yr and each day milk manufacturing volumes elevated from January to April. Milk costs within the EU rose barely in some areas and decreased barely in others from March to April. Milk elements had been decrease in April 2024 than in April 2023. Early knowledge signifies decreases in milk deliveries within the Netherlands in Might. Peak spring flush volumes had been seen in April this yr. Natural milk manufacturing within the UK declined in Might from the identical month a yr in the past. EAST EUROPE: In a number of of the Commonwealth of Unbiased States (CIS) member nations, yr over yr will increase in milk manufacturing from January to April slowed. Nonetheless, vital progress was seen in Belarus, which reported a rise in milk manufacturing within the first 4 months of the yr versus the identical interval final yr. OCEANIA: AUSTRALIA: Based on Dairy Australia, Might 2024 milk manufacturing, was up from Might 2023. Milk manufacturing was larger in Might 2024 in comparison with a yr earlier in each state. The most important enhance from Might of 2023 occurred in Victoria. Milk manufacturing from the beginning of the season in July 2023 by way of Might 2024 elevated in comparison with the identical timeframe a yr earlier. From the beginning of the season in July 2023 by way of Might 2024 the cumulative quantity of milk produced was larger in each state in comparison with the prior season. NEW ZEALAND: Export knowledge for Might 2024 was not too long ago launched for New Zealand. This knowledge confirmed a rise in worth for milk powder, butter, and cheese exported in Might 2024 in comparison with April 2023. Recent milk and cream export values had been larger in Might 2024, when in comparison with a yr earlier. A latest survey from DairyNZ discovered costs for dairy farmers in the course of the 2022-2023 season had been the costliest in New Zealand in a decade. SOUTH AMERICA: Farmers in some areas of the South American continent are reportedly, and fortunately, gaining some steam on milk manufacturing. As has been talked about in a number of latest stories, climactic challenges, placing it frivolously, have burdened international locations all through South America. Fall was hotter than anticipated, with heavy rain/flooding in various key dairy producing areas. The winter months are anticipated to convey on extra impartial climate patterns, however there are large variances within the quantity of milk obtainable from one nation to the subsequent, and from one space to the subsequent throughout the identical nation in lots of instances.
US NATIONAL RETAIL REPORT: Independence Day week introduced a lower in each standard and natural dairy commercial totals by 5 and 74 p.c, respectively. Standard ice cream in 48-to-64- ounce containers was essentially the most marketed single merchandise this week, whereas half -gallon milk adverts led all different gadgets within the natural sector. As a commodity, standard milk advert totals elevated 25 p.c, whereas natural milk advert totals slipped 80 p.c week over week. The weighted common marketed value of standard milk, in half-gallon containers, was $2.39, whereas natural half-gallon milk’s value was $4.67, leading to an natural premium of $2.28.
