USDA released a much anticipated quarterly Hogs and Pigs report for September today. At 73.8 million head, the total inventory as of 1 September followed the seasonal pattern of peaking for the year in September but was down from last year. This is third consecutive year-over-year decline in the September inventory, and the lowest September inventory since 2017.
Nonetheless, the report was generally in line with the pre-report expectations. The breeding herd and the June through August pig crop were slightly below the consensus forecasts, as were lighter weight feeder pigs. Like the overall swine herd, the breeding herd and market hog inventory are also the lowest since 2017.
Compared to the June report, the Septembe...
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...
