『THE PROTEIN PULSE PODCAST | Wednesday Watchlist | September 23, 2026』のカバーアート

THE PROTEIN PULSE PODCAST | Wednesday Watchlist | September 23, 2026

THE PROTEIN PULSE PODCAST | Wednesday Watchlist | September 23, 2026

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THE PROTEIN PULSE PODCASTWednesday Watchlist | September 23, 2026Your daily market update on all things proteinHOST: Welcome to The Protein Pulse Podcast — your daily market update on all things protein. This is Wednesday Watchlist for September 23, 2026, from The Sparks Group.SHAWN: You know the protein business is getting interesting when a truckload of frozen chicken becomes currency. According to reports out of Memphis, a driver allegedly offered one hundred ten thousand dollars’ worth of Koch Foods chicken to settle a drug debt. Twelve arrests later, the load was recovered. Somewhere, a freight broker is having a very bad week. We’ve got diesel prices pushing toward record territory, August cattle placements at their lowest August level on record, and hog inventories potentially tightening into twenty twenty-seven. Apparently, we can add poultry to the list of accepted currencies. I’ve spent plenty of time negotiating pennies per pound, watching diesel prices, and trying to squeeze another nickel out of freight. Never occurred to me that someone might be negotiating a chicken-for-cocaine exchange rate. Know your market. Know your external risks. And make sure your meat isn’t paying somebody else’s bills.HOST: August cattle placements fell nine point two percent to their lowest August level on record as Santa Teresa prepares to reopen Thursday. Sterling shows beef packers profitable while feedlots lose three hundred twenty-four a head. Pork producers remain profitable while packers operate near breakeven. Imported lean offers a substantial discount to domestic supply, although Asian demand raises questions about forward availability. Bird flu threatens turkey production. Thursday’s hog inventory report approaches. Elevated diesel complicates delivered protein economics.SHAWN: USDA placements totaled one point six one seven million head, down nine point two percent from last year, versus a pre-report expectation of a two point seven percent decline. Lowest August placement total on record — not the lowest total for any month. September first inventories eleven point one six three million, just seven-tenths above twenty twenty-five. The year-over-year inventory surplus has narrowed from about two hundred thirty-nine thousand head on June first to eighty-three thousand. Year-to-date cattle slaughter nineteen point seven three two million through September twenty-second, down seven point five percent — about one point six million fewer cattle than the comparable twenty twenty-five period.HOST: Fewer cattle do not translate into an equivalent reduction in beef pounds. Hales reports fed carcass weights nine hundred fifty-four pounds, up twenty-four from last year. Beef-type cattle grading Choice or higher reached eighty-eight percent, five points above twenty twenty-five. Heavier carcasses are partially offsetting reduced slaughter. Higher grading changes the composition of available beef. Cattle numbers, total beef pounds, and the availability of specific grades and manufacturing inputs are three different considerations.SHAWN: Santa Teresa is scheduled to reopen September twenty-fourth. Historically that crossing handled about forty-three percent of the one point two five million cattle imported annually from Mexico — roughly five hundred thirty-seven thousand five hundred head on an annualized basis. The reopening remains scheduled despite confirmation of New World screwworm in a horse in Grant County, New Mexico. Actual crossing volumes, inspection requirements, Mexican feeder availability, and finish time will determine the commercial impact. Reopening the crossing could improve feeder availability. It will not immediately restore finished-cattle supplies.HOST: Sterling estimates unhedged feedlot losses deepened to three twenty-three sixty-eight a head in the week ending September nineteenth, versus three oh seven nineteen the prior week. Packer margins remained positive at one thirty-eight eighty, down from one seventy-seven sixteen. Cow-calf twenty twenty-six annual projection plus one thousand four a cow. Cattle marketed last week carried an estimated breakeven of two forty-five, versus two thirty-five oh nine for new placements. Sterling still projects an annual beef packing loss of one fifty-three seventy-five a head for twenty twenty-six.SHAWN: Imported lean remains a meaningful alternative. Platts tradable C I F Philadelphia indications for October–November Australian and New Zealand shipments: ninety-five C L three forty-nine. Nineties three nineteen. Eighty-fives three oh four. Against the last established domestic fresh nineties of four nineteen eighty-three, imported nineties at three nineteen C I F is a gross differential of about a dollar one. That is not a directly executable dollar-one saving. Product condition, shipment timing, duties, inland freight, handling, and financing have to go into delivered blend economics.HOST: Forward availability deserves attention....
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