USDA released a trifecta of livestock reports today. First, the much-awaited quarterly hogs and pigs report. Pre-report expectations were for a bullish report – and those expectations were correct. Total inventory was 74.2 million head, or 96 percent of a year ago and 95 percent of 2019. Most all categories came in below analysts’ forecasts.
Farrowings from September to November were 3.01, or 95 percent of last year but right on the reported farrowing intentions from the last report in September, but below the pre-report expectations. June through November sow farrowings are 94 percent of the same period in 2020. Farrowing intentions for December to February are 2.94 million, that is slightly above last yea...
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...