Quick Overview

• A big overhang of property will bring U.S. house prices down further, but it is too early to say if the economy will sink into recession, former Fed chief Alan Greenspan was quoted as saying.
  

• Canada's retail sales fell 0.8% in July.
  

• Mexico holds rates at 7.25% on signs of slowing U.S. Economy.
  

• Inflation in India slips to 3.32%, a 5-year low. Forex reserves at $232.187 bn
  

• The USDA said that YoY pork production totaled 1.85 billion pounds in August, up 4%. Beef production totaled 2.45 billion pounds.
  

• The USDA said there were 457.9 million Lbs of frozen pork in storage on August 31st, up 10% YoY. Frozen bellies totaled 22.7 million pounds, up 90% YoY.
  

• The USDA said there were 10.302 million head of cattle on feed on September 1st, down 6.2% YoY. August placements were down 7.5%, marketing’s unchanged.
  

• According to the Ag Department, the total commercial red meat production during August was a record 4.326 billion pounds, up 10% from last month and 2% more than last year.
  
  

• The USDA said there were 760 million pounds of frozen orange juice in storage, down 14% YoY.