Yesterday, USDA’s Ag Marketing Service published the premiums for hogs compliant with California Proposition 12 and Massachusetts Question 3 under the mandatory price reporting program. The data was in the Non-Carcass Merit Premium report under the category “Animal Confinement Legislation.” As shown below, there was a wide range for the premium, with an average of $4.94 per hundredweight. With the aggregated data it is unclear, but probably safe to assume, that the spread is due to smaller packers offering higher premiums, and larger packers offering lower premiums.
The categories above are what AMS reports on, though there are a myriad of premiums aggregated under “other.” Some categories are no longe...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...