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

• Jul ’18 U.S. commercial red meat production increased 3.9% on a YOY basis when normalized for slaughter days, finishing at a record seasonal high level for the month of July. The YOY increase in total red meat production was the 42^nd experienced in a row.
• Jul ’18 pork production increased 4.2% YOY when normalized for slaughter days, finishing at a record seasonal high level for the month of July. The YOY increase in pork production was the 17^th experienced throughout the past 18 months.
• Jul ’18 beef production increased 3.6% YOY when normalized for slaughter days, finishing at a ten year seasonal high for the month of July. The YOY increase in beef production was the 32^nd experienced throughout the past 33 months.

Additional Report Details Total Red Meat – Production Reaches a Record Seasonal High Level, Finishes up 3.9% According to USDA, U.S. commercial red meat production finished flat MOM but remained up 3.9% YOY when normalized for slaughter days, finishing at a record seasonal high for the month of July. Total red meat production has increased on a YOY basis over 42 consecutive months through July. ’16-’17 annual red meat production increased 4.3% YOY, finishing at a record high level, while ’17-’18 YTD production has increased an additional 3.6% throughout the first ten months of the production season. Pork – Production Reaches a Record Seasonal High Level, Finishes up 4.2% Jul ’18 U.S. pork production increased 1.0% MOM and 4.2% YOY when normalized for slaughter days, finishing at a record seasonal high for the month of July. The YOY increase in U.S. pork production was the 17^th experienced throughout the past 18 months. The Jul ’18 total number of hogs slaughtered increased 4.1% YOY while average weights/head finished equal to the previous year figures. ’16-’17 annual pork production increased 2.9% YOY, finishing at a record high level, while ’17-’18 YTD production has increased an additional 3.5% throughout the first ten months of the production season. Beef – Production Increases to a Ten Year Seasonal High, Finishes up 3.6% YOY Jul ’18 U.S. beef production declined 0.9% MOM but remained 3.6% higher YOY when normalized for slaughter days, finishing at a ten year seasonal high for the month of July. U.S. beef production has increased on a YOY basis over 32 of the past 33 months through July. The Jul ’18 total number of cattle slaughtered increased 3.6% YOY while average weights/head finished equal to the previous year figures. ’16-’17 annual beef production increased 5.7% YOY, finishing at a six year high, while ’17-’18 YTD production is up an additional 3.6% throughout the first ten months of the production season.