Latest WASDE Report and US Pork Exports Value Record

Latest WASDE Report and US Pork Exports Value Record

Bob Larson
Bob Larson
From the Ag Information Network, I’m Bob Larson with your Agribusiness Update.

**Ag Secretary Tom Vilsack announced the USDA has awarded over $270 million through cooperative agreements with state departments of agriculture to build resilience across the middle of the food supply chain and strengthen local and regional food systems.

At the National Association of State Departments of

Agriculture’s Winter Policy Conference, Vilsack announced seven states have now opened their Request for Applications for the program, joining 28 others.

**The February World Agricultural Supply and Demand

Estimates, or WASDE report, shows the 2023-24 U.S. corn outlook calling for lower food, seed, and industrial use and larger ending stocks.

The season-average corn price received by producers is unchanged at $4.80 a bushel.

The wheat outlook is for stable supplies, lower domestic use, unchanged exports, and higher ending stocks.

The season-average farm price forecast is unchanged at $7.20 a bushel.

**Led by a record-shattering performance in Mexico and broad-based growth elsewhere, U.S. pork exports set a value record in 2023.

Data shows December pork exports rose 10% from the prior year to 268,400 metric tons, the largest since May 2021 and the eighth largest on record.

Export value was up 11% to $766 million, also the highest since May of ‘21 and the third highest on record.

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