USDA released its first quarterly Hogs and Pigs report for the year today. At 72.86 million head, the total inventory as of 1 March was slightly above last year’s 72.69 million head.
The report was generally in line with pre-report expectations, except there were a few more market ready hogs than expected, a slightly bearish situation. But looking forward, farrowings for the first two quarters of this year were below the consensus forecasts, a bullish situation. Hog prices started to slide in mid-March, which could affect actual farrowings versus the reported intentions.
Every report last year showed most categories down from 2021; this report which shows a steady course of status-quo was a bit of a turn-around...
What You Need to Know Today: There has already been a strong run of flash soybean sales announcements in recent weeks, but more than 1.4 MMT reported this morning is an exceptionally large single-day total with major implications for the market. If the sales to China and unknown destinations w...
On Friday, at 6:57 AM, President Donald Trump announced, via a social media post, a 90-day window during which up to 300,000 metric tons of product for ground beef could be imported outside of tariff-rate quotas—a move aimed at bringing down costs for American consumers. This is the secon...
