Yesterday’s Hogs and Pigs report showed total inventory at 77.5 million head, 99 percent of 1 December 2019. The breeding herd was 6.28 million head, 97 percent of last year, which was smaller than the 2 percent drop expected pre-report. Market hog inventory was 71.2 million head which was 99 percent of last year and the July-August quarter. Notably, the market hogs by weight category showed feeder pigs under 50 pounds a little higher than expected and heavy hogs a little lower than expected. In all, it showed post-COVID steps toward a more normal market situation and a sign of slower growth going into 2021.
The pig crop was 35 million head, 99 percent of 2019 on farrowings of 3.16 million head, also 99 percent...
What You Need to Know Today: President Trump claimed the ceasefire between the U.S. and Iran was over, as both sides accused one another of violating the terms of the agreement. Commercial vessels are increasingly steering clear of the Strait of Hormuz as security risks escalate following Iran...
Key Takeaways: The CME Group is launching new 90 percent Lean Beef and 50 percent Lean Beef futures and options contracts in July. There are five key factors that must be present in physical markets and futures contract specifications for futures contracts to become successful. The two l...
