Last Friday USDA released its quarterly Hogs and Pigs report for the September through November quarter. The total inventory of hogs and pigs on 1 December was 74.971 million head, which was up marginally from December 2022. The inventory, however, came in below the consensus pre-report expectation.
With the December 2023 report, USDA revised the 1 December 2022 inventory upwards by 1.837 million head from the original estimate, making the revised inventory estimate for 2022 74.956 million head. All quarters in 2023 were revised higher.
The inventory of hogs and pigs on 1 December 2023 was down marginally from the previous quarter, which ended on 1 September. This was in line historically with a smaller December inventory compared to...
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...
