USDA will release its June quarterly Hogs and Pigs report on Thursday. The expectation is a total herd of 72.016 million head, that is down 0.7 percent from June 2022.
The last quarterly report in March was the first March report that didn’t show a drop in inventory since 2020, weeks before COVID. It also showed the smallest drop from the December to February quarter since 2019. If the pre-report expectations are correct, this will be the third June over June drop in a row, and the third consecutive March to June drop. Farrowing intentions are expected to be down about 3 percent. Behind that number is the increase in sow slaughter; over the past two months sow slaughter is up about 7 percent while slaughter of barrows...
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...
