USDA will release its quarterly Hogs and Pigs report tomorrow. The pre-report estimate is as follows:
The pigs per litter for March through May is forecast at 101.3 percent of last year, with a range of 100.9 to 102.3 percent. The pig crop is expected at a one percent increase, that aligns with the projected inventory of market hogs under 50 pounds, but most of the growth is expected to come from trendline growth in pigs saved per litter. The expected pigs per litter trend for spring born pigs is up about 1.3 percent and is in line with the trend. However, there have been concerns over inventory loss due to porcine respiratory and reproductive (PRRS) virus. The report should put some parameters on that. Notably, in the 1 March report, pigs...
What You Need to Know Today: The hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
