Today, USDA released its quarterly Hogs and Pigs report for the June through August quarter. The total inventory of hogs and pigs on 1 Spetmeber was 76.48 milllion head, which was up from 76.133 million head in 2023.
Typically, inventories grow from 1 June and peak for the year on 1 September, dropping back down on 1 December; 2018 and 2022 were the exceptions where 1 December inventories grew above the September inventory. The 2024 1 September inventory was up 2.6 percent from the inventory on 1 June. That compares to an average of 2.7 percent from 2018 to 2023, despite those years seeing some voliatility.
Note that the 1 June inventory was revised with the September report. Other revisions made in today...
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...
