Hog slaughter is running about 3.7 percent below last year, but live slaughter weights/carcass weights are up so the drop in pork production is only about 3 percent. Live weights are following their seasonal pattern of dropping during the hot summer weather but going into August and early September there could be more lighter-weight and fewer hogs marketed given weather forecasts – the opposite of cattle where drought has led to liquidation for the first half of the year.
The impact of drought and heat has been significant on the cattle market, but it is worth noting that hogs are more sensitive to heat than most species. It’s not always top of mind but the hog market can also be impacted by weather. Swine don’t perspi...
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...
