USDA released the quarterly Hogs and Pigs report yesterday. Some topline highlights: Total swine inventory on 1 March was 77.6 million head, 104 percent of March 2019, but 99 percent of 1 December 2019.
Market hogs were above pre-report expectations
Breeding herd was below pre-report expectations
Total sow slaughter was up – a significant factor likely was sows from Canada
Farrowing intentions for March-May were down slightly from actual farrowings for the same quarter in 2019
June-August farrowing intentions are 96 percent of actual 2019 farrowings for the quarter
Production efficiency, however, continues to increase with pigs saved per litter setting new records almost every quarter. Pigs saved p...
Key Takeaways: Dry bulk markets remain mixed with Capesize vessels seeing continued pressure from weaker demand while fixtures and rate strength gradually increases towards the smaller vessel classes. Tanker markets are pulling back from their recent highs as tonnage moves out of the Mid...
The Trump import plan for 300,000 MT of beef supplies used for ground beef, i.e., lean trim, from September through November has, according to Secretary Brooke Rollins, brought some relief to beef prices. The Executive Order states that the Secretary of Agriculture will analyze and review the m...
Key Takeaways: Texas illustrates the assumptions underlying the 2025 FMMO reform; Idaho exposes their limitations. The Southwest order blend (roughly 27 percent Class I, 32 percent Class III and 31 percent Class IV) exposes Texas producers to every lever USDA adjusted, with a near-neutral proj...
