Executive Summary U.S. livestock slaughter figures provided by USDA were recently updated with values spanning through Feb ’18. Highlights from the updated report include:

• Feb ’18 U.S. commercial red meat production increased 3.1% on a YOY basis when normalized for slaughter days, finishing at a record seasonal high level for the month of February. The YOY increase in total red meat production was the 37^th experienced in a row.
• Feb ’18 pork production increased 3.6% YOY when normalized for slaughter days, finishing at a record seasonal high level for the month of February. The YOY increase in pork production was the 21^st experienced throughout the past 22 months.
• Feb ’18 beef production increased 2.6% YOY when normalized for slaughter days, finishing at a seven year seasonal high for the month of February. U.S. beef production has increased on a YOY basis over 28 consecutive months through February.

Additional Report Details Total Red Meat – Production Remains at a Record High Seasonal Level, Finishes up 3.1% YOY According to USDA, U.S. commercial red meat production declined 3.5% MOM seasonally to a seven month low but remained 3.1% higher YOY when normalized for slaughter days, finishing at a record seasonal high for the month of February. Total red meat production has increased on a YOY basis over 37 consecutive months through February. The MOM decline in total red meat production of 3.5% was fairly consistent with the ten year average January – February seasonal decline in production of 3.9%. ’16-’17 annual red meat production increased 4.2% YOY, finishing at a record high level, while ’17-’18 YTD production is up an additional 3.6% throughout the first five months of the production season. Pork – Production Remains at a Record High Seasonal Level, Finishes up 3.6% YOY Feb ’18 U.S. pork production declined 2.0% MOM but remained 3.6% higher YOY when normalized for slaughter days, finishing at a record seasonal high for the month of February. U.S. pork production has increased on a YOY basis over 21 of the past 22 months through February. Feb ’18 total hogs slaughtered increased 2.8% YOY while average weights/head finished 0.7% higher. ’16-’17 annual pork production increased 2.9% YOY, finishing at a record high level, while ’17-’18 YTD production is up an additional 3.7% throughout the first five months of the production season. Beef – Production Increases to a Seven Year Seasonal February High, Finishes up 2.6% YOY Feb ’18 U.S. beef production declined 5.0% MOM but remained 2.6% higher YOY when normalized for slaughter days, finishing higher for the 28^th consecutive month. Overall, beef production finished at a seven year seasonal high for the month of February. The Feb ’18 total number of cattle slaughtered increased 2.0% YOY while average weights/head finished 0.6% higher. ’16-’17 annual beef production increased 5.6% YOY, finishing at a six year high, while ’17-’18 YTD production is up an additional 3.4% throughout the first five months of the production season.