John T. Barone, president and commodities analyst for Market Vision Inc.
Red meat markets are poised to be an issue for foodservice operators in 2014. December’s USDA cattle report showed that new placements onto feedlots in November fell 7 percent year-over-year. Total feedlot inventories are historically low for this time of year at 10.72 million head, 5.5 percent below a year ago and 6.8 percent below the five-year average. The USDA is forecasting U.S. beef output to decline 5.7 percent in 2014 and to be 6.4 percent lower in the second half of 2014 ...
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