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: 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...
