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: 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...
