Today, USDA released its quareterly Hogs and Pigs report for the March through May quarter. The total inventory of hogs and pigs on 1 June was 74.5 million head, which was 101 percent of June 2023, in line with pre-report expectations.
This is the second consecutive year to see an increased June inventory. Total inventory was down slightly from March, but shows a much smaller decline than the past three years.
With the June report, USDA made the following revisions, all upwards, detailed in the table below.
Note that the September to November 2023 pig crop was also revised up 0.5 percent in the March report. The table below shows the numbers from the report by catgeory compared to the pre-report expectations. The...
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...
