Two factors enabled the Canadian pork industry to greatly benefit in the past year from a surge in exports to China, hitting a record of nearly 314,000 MT with an approximate value of $436 million. However, it is now facing a potentially heavy blow.
Oilseeds Soymeal Inventories Reach Highest Level Since Early 2016 As of 9 June, China’s estimated soymeal inventory reached its highest level since mid-January 2016 at a total 1,404,600 MT. Nationwide, soymeal inventories were up 19,400 MT (+1.4 percent) from the previous week and 704,700 MT higher (+100.7 percent) than at the end of the first full week in June 2016. Unlike previous weeks, however, they did not increase in all regions. In Guangdong and the Northeast, inventori...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
