As previewed on Tuesday, USDA released the quarterly Hogs and Pigs report yesterday. The report was neutral, coming very close to pre-report expectations. The inventory of all hogs and pigs as of 1 June was 72.5 million head.
Compared to the last quarter, both the total inventory of hogs and pigs and the market hog inventory were down slightly (less than 1 percent). The bump in market hogs weighing less than 50 pounds will start to show in increased slaughter numbers by October and into 2023 – though slaughter will remain below last year. July slaughter should run a bit ahead of current rates and slow into August based on the market hog inventory.
The March-May 2022 pig crop, at 32.9 million head, was 99 percen...
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...
