On 23 December, USDA released its quarterly (Sept-Nov) Hogs & Pigs report and it was bearish. The total inventory of hogs and pigs on 1 December was 75.845 million head, up 0.5 percent year-on-year and slightly ahead of the pre-report consensus estimates.12242024dave1.png 41.47 KBThe typical hog cycle sees inventories grow from 1 June and peak for the year on 1 September, dropping back down on 1 December. The 1 December 2024 inventory was down 1.38 percent from the 1 September total. Note that 2018 and 2022 were the exceptions where 1 December inventories grew above the September inventory. This was the largest December inventory since 2020 and the second consecutive year of expansion, after three consecutive years of contraction...
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...
From WPI Consulting
Communicating importance of value-added products
Facing increasing pressure to quantify the value of export promotion efforts to investors, a U.S. industry organization retained WPI to develop a quantitative model that better communicated the importance of exports. The resulting model concluded that value-added meat exports contributed $0.45 cents per bushel to the price of corn, increasing support for that sector’s financial support of WPI’s client. In addition to serving the red meat industry with this type of analysis, WPI has generated similar deliverables for the U.S. soybean and poultry/egg industries.