Above average week for beef, pork export sales

Published 2020년 6월 18일

Tridge summary

The USDA reports that meat export sales were above average with a sharp increase in pork sales to Mexico and China, while beef exports were also above average, primarily to South Korea, Japan, and Hong Kong. However, old crop grain and oilseed exports were less than the previous week and their averages. There was a strong week for new crop soybean sales, with China buying over a million tons. The physical shipments of sorghum and wheat were more than projected for the current marketing years.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The USDA says meat export sales during the week ending June 11th were better than average. Pork sale were up sharply from both the previous week and the four-week average, mainly to Mexico and China, and while beef exports were below the previous week, they were above average, primarily to South Korea, Japan, and Hong Kong. Old crop grain and oilseed exports were all less than the week before and their respective averages, including a net reduction for sorghum following a big cancellation by unknown destinations. It was another strong week for new crop soybean sales, with China buying more than a million tons. The USDA’s next set of supply and demand estimates is out July 10th. Physical shipments of sorghum and wheat were more than what’s needed to meet USDA projections for the current respective marketing years. The 2020/21 marketing year got underway June 1st for wheat, while 2019/20 runs through the end of July for cotton and rice, the end of August for corn, sorghum, and ...

Source: Brownfield Ag