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: Markets got a surprise with a corn yield of 181.2 bushels/acre in the October WASDE, above the average estimate of 177.6 bushels/acre and up from USDA’s September estimate of 178.5 bushels/acre. Although stronger demand is expected to absorb some of the addit...
Key Takeaways: On Friday afternoon, President Trump announced that Russia will “immediately supply over 300,000 Tons of Diesel Fuel” to the United States. The deal, typical of this administration, is light on details but promises an additional 500,000 tons in November and 1 m...
The USDA has lowered its 2026 red meat production forecasts slightly while forecasting a slight increase in broiler production. Beef is now projected at 24.802 billion pounds, 75 million pounds less than in September. Cow slaughter is expected to be up; however, this will be offset by lower ste...
