Production remains very strong, as has been seen in recent weeks. Producers have strong margins so we should expect this pace to continue for another six weeks or so.
Year to date production totals are impressive. That will moderate in the coming weeks as the comparison against last year slips. Keep in mind last year had a surge in production at this time.
As it appears we will end very close to USDA’s estimate of an 8.6% increase.
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