Livestock, Poultry, and Dairy: Situation and Outlook

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1 Livestock, Poultry, and Dairy: Situation and Outlook AAEA Annual Meeting Extension Track August 14, 2012 James G. Robb Director

2 29 land Grant Universities: USDA Members: ERS APHIS GIPSA NASS WAOB AMS Associate Members: AFBF ASI NCBA NPB CME-Group Canadian Consortium Noble Foundation CoBank TCFA CWB TCU

3 Topics: Markets, Numbers and U.S. Consumer and Per Capita Disappearance Feedstuffs are the Key Some International Trade Comments Sector Highlights Chicken Hogs/Pork Dairy Cattle/Beef USDA Data Sources NASS, AMS, FAS, and ERS All Forecasts LMIC

4 US Consumer and Consumption (Disappearance)

5 Dollars PER CAPITA DISPOSABLE PERSONAL INCOME Quarterly Current Dollar Dollar Data Source: Dept Commerce-BEA

6 Index Value 120 RETAIL ALL FRESH BEEF DEMAND INDEX First Quarter, Using CPI 1990= Data Source: LMIC

7 U S BEEF CONSUMPTION Per Capita, Retail Weight, Annual Pounds Data Source: USDA-NASS and ERS, Forecasts by LMIC

8 U S RED MEAT & POULTRY CONSUMPTION Per Capita, Retail Weight, Annual Pounds Turkey Total Chicken Pork 50 Beef Data Source: USDA-NASS and ERS, Forecasts by LMIC

9 Drought A Game Changer

10 Feedstuffs are Key

11 U S TOTAL CORN SUPPLY AND PRICE Crop Year Bil. Bushels $ Per Bushel Supply Price Data Source: USDA-NASS, Forecasts by LMIC

12 U.S. CORN DISAPPEARANCE AND STOCKS Crop Year Bil. Bushels Stocks Exports Food, Seed & Industrial Feed & Residual Data Source: USDA-NASS and ERS, Forecasts by LMIC

13 Trade Comments

14 U S BROILER EXPORTS As a Percentage of Broiler Production, RTC, Annual Percent Data Source: USDA-FAS and ERS, Forecasts by LMIC

15 Percent 22 U S NET PORK EXPORTS As a Percentage of Production, Carcass Weight, Annual Data Source: USDA-FAS and ERS, Forecasts by LMIC

16 1000 MT 30 CHEESE AND CURD EXPORTS Monthly 25 Avg Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Data Source: USDA-FAS

17 Percent U S BEEF AND VEAL NET IMPORTS As a Percentage of Production, Carcass Weight, Annual Data Source: USDA-FAS and ERS, Forecasts by LMIC

18 FEEDER CATTLE IMPORTS FROM MEXICO Weekly Thou. Head Avg JAN APR JUL OCT Data Source: USDA-AMS & APHIS

19 Mil. Head (Cow s & Heifers) 6 CANADA CATTLE INVENTORY January 1, Annual Mil. Head (Total) Beef Cows Beef Heifer Replacements Total Cattle Inventory Data Source: Statistics Canada

20 Chicken & Pork

21 BROILER EGGS SET Weekly Mil. Eggs Avg JAN APR JUL OCT Data Source: USDA-NASS

22

23 RTC BROILER PRODUCTION Quarterly Bil. Pounds Avg. 2007/ JAN-MAR APR-JUN JUL-SEP OCT-DEC Data Source: USDA-NASS, Forecasts by LMIC

24 RTC TURKEY PRODUCTION Quarterly Bil. Pounds Avg. 2007/ JAN-MAR APR-JUN JUL-SEP OCT-DEC 2014 Data Source: USDA-NASS, Forecasts by LMIC

25 Thou. Head 70 SOW SLAUGHTER Federally Inspected, Weekly Avg JAN APR JUL OCT Data Source: USDA-NASS

26 PIGS PER LITTER Quarterly Head Data Source: USDA-NASS

27 COMMERCIAL PORK PRODUCTION Quarterly Bil. Pounds Avg. 2007/ JAN-MAR APR-JUN JUL-SEP OCT-DEC 2014 Data Source: USDA-NASS, Forecasts by LMIC

28 Dairy

29 CLASS III MILK PRICES FMMO, Monthly $ Per Cwt Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg Data Source: USDA-AMS

30 Thou Head DAIRY COW INVENTORY US Total, Monthly Avg JAN MAR MAY JUL SEP NOV Data Source: USDA-NASS

31 Thou. Head DAIRY COW SLAUGHTER Federally Inspected, Weekly Avg JAN APR JUL OCT Data Source: USDA-NASS

32 Cattle/Beef

33 Mil. Head 52 JANUARY 1 TOTAL COW INVENTORY U.S., Annual Data Source: USDA-NASS, Forecasts by LMIC

34 $ Per Cwt MED. & LRG. #1 STEER CALF PRICES Pounds, Southern Plains, Weekly JAN APR JUL OCT Avg Data Source: USDA-AMS

35 Bil. Pounds 7.0 COMMERCIAL BEEF PRODUCTION Quarterly JAN-MAR APR-JUN JUL-SEP OCT-DEC Avg. 2007/ Data Source: USDA-NASS, Forecasts by LMIC

36 $ Per Cwt ANNUAL AVERAGE CATTLE PRICES Southern Plains lb Steer Calves lb Feeder Steers Fed Steers Data Source: USDA-AMS, Forecasts by LMIC

37 $ Per Cow 200 ESTIMATED AVERAGE COW CALF RETURNS Returns Over Cash Cost (Includes Pasture Rent), Annual Data Source: USDA-AMS, NASS, Analysis and Forecasts by LMIC

38 $ Per Cwt CHOICE STEER PRICE vs BREAKEVEN Cattle Feeding, S. Plains, Monthly Latest Data: July 2012 Steer Price Breakeven Projected Breakeven Data Source: USDA-AMS, NASS, Analysis and Forecasts by LMIC

39 Thank You!

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