USDA will release its Quarterly Hogs and Pigs report on Thursday. Below are analysts’ estimates for the report.
The biggest change since the 1 March report is the number of market hogs, which is expected to be up 1.1 percent from what was implied in March. The percent increase in hogs weighing more than 180 pounds is even higher, according to analysts, at 1.3 percent, which jibes with the weekly slaughter pace for June to date. For July and August, the pre-report estimate shows a 1 percent increase compared to the 0.3 percent and 0.5 percent, respectively, reported in March. That is slightly bearish all around. The pigs per litter over the past five years have increased by 1 percent from March through May compared with the December t...
What You Need to Know Today: There is a global rotation out of tech stocks right now amid profit-taking and expectations of interest rate hikes later this year. The White House said Iran will use its upcoming unsanctioned oil revenue to buy U.S. agricultural products, a claim that Iran later s...
Beef packer margins deteriorated to -$243/head last week, down $25 from the prior week as higher fed cattle prices more than offset a slight decline in the Choice cutout. The cutout eased to $390/cwt while fed cattle prices climbed to $260/cwt - just of all-time highs - extending the seasonal s...
