BEEF BALANCE SHEET: Total beef supply (production + imports) in 2022 is projected at 31.16 billion pounds, down 930 million pounds from 2021 (VIEW REPORT)

BEEF BALANCE SHEET: Beef production for 2021 is projected at 28.02 billion pounds, up 55 million pounds from last month (VIEW REPORT)

BEEF BALANCE SHEET: Beef production in 2022 is projected at 27.235 billion pounds, down 785 million pounds from 2021 (VIEW REPORT)

SOYBEAN BALANCE SHEET: Soybean production is estimated at 4.44 billion bushels, up 10 million with gains for Iowa and Indiana. The U.S. season-average soybean price for 2021/22 is forecast at $12.60 per bushel, up 50 cents (VIEW REPORT)

CORN BALANCE SHEET: Corn production is estimated at 15.115 billion bushels, up 53 million on a 0.3-million acre increase in harvested area (VIEW REPORT)

DROUGHT MONITOR: Western storms have boosted snowpack and reduced drought. California is almost free of Extreme Drought (D3) (VIEW REPORT)

MEATBOARD: Boxed Beef Choice: $284.31 (+1.45); Pork Carcass: $89.07 (-6.21); Chicken Breast: $228.34 (+1.40) (Fri pm)

CATTLE WEIGHTS: Live weights reported this week at 1,397 lbs., up 3 lbs. from last week, down 6 lbs. from last year (EWMP)

CME LIVESTOCK: Live Cattle: $142.125 (+1.15); Feeder Cattle: $166.375 (-0.35) Hogs: $88.45 (+3.125); Milk: $22.20 (+0.00)

CME GRAINS: Corn: $5.9625 (+8.75); Soybeans: $13.6975 (-7.50); Wheat: $7.415 (-5.25); Cotton: $119.70 (+2.86)

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