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 hot, dry weather forecast continues to drive strength in grain futures with corn and soybeans hitting another day of strong gains. Monday’s Crop Progress and Conditions data were in line with market expectations and showed relatively few concerns for the...
Yesterday we wrote about the Q1 GDP numbers and the June employment reports in an article entitled Real GDP for Q1 Relying on AI Buildout, Held Back by Consumer Spending. That article mentioned that consumer spending had become a drag on GDP. Nonetheless, real GDP in Q1 was revised upward to 2...
Key Takeaways: The Middle East and North Africa's arid climate and limited water resources have created a structural dependence on imported wheat. Government wheat tenders in major importing countries serve as important benchmarks for global trade, providing insight into exporter competitivene...
