You know what hasn't fallen over the last few years? Wages! In the latest government jobs data...
Earlier this month the USDA updated their 2024 beef output forecasts. Readers might remember that due to the historically small cattle supply, beef output is expected to be especially tight next year. The good news is the USDA bumped their beef production forecast higher from July. However, output will still fall far short from 2023 and would be the lowest in nearly a decade. And if that wasn't enough, the near 7 percent decline in production next year would be the biggest drop since the Pittsburgh Steelers were on their way to winning their fourth Super Bowl in 1979 (Homer call....I know).
Datum FS has forecasts for over 50 commodities comprising various beef, dairy, grains, pork and chicken markets. If you would like to learn more about a complimentary trial to the forecasts and commentary or about Datum FS services hit the home button above. Thanks for reading.
