USDA released its quarterly Hogs and Pigs report yesterday, confirming herd expansion and containing a number of records. The total inventory of hogs and pigs as of 1 June was 73.5 million head, 103 percent of last year and also up to 101 percent of the last quarter on 1 March. It was in line with the pre-report estimates and is the largest 1 June on record (since 1964). Market hogs totaled 67.1 million head, also 103 percent of year-ago levels as well as a record for 1 June.
Sows kept for breeding totaled 6.32 million head or 103 percent of last year, and that was the biggest market surprise in the report as industry expectations had this inventory at 101.7 percent. Producers reported their intention to farrow 3.17 million sows during...
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...
