Hog Price “Hockey Stick” The impacts of African swine fever (ASF) in China are being felt in the hog market. Last week hog prices rebounded to their three-year average, charting out a classic “hockey stick.” The nearby futures contract closed yesterday at $81.325/cwt, up from the contract low of $52.5/cwt in mid-February. Given the volatile nature of the U.S.-China trade situation, the big question will be how long the highs will last.
The bullish turn in the hog market has had a dramatic effect in just two weeks, pulling up production margins.
As of 1 March, the Chinese hog and sow herds were estimated to be down 17 percent and 19 percent, respectively. China slaughters about 700 million head per year, so a 1...
What You Need to Know Today: After a period of limited activity, USDA reported a sizeable 613 KMT in soybean export sales, including 330 KMT to China and 283 KMT to unknown destinations, potentially also China. The purchases represent a meaningful pickup in demand and bring China closer to ful...
Key Takeaways: Consumer spending is a key driver of the U.S. economy, and the latest retail sales data indicate that spending remains robust despite inflation. In September, total retail and food service sales rose more than 6 percent year-over-year, with food service spending up 7 percent and...
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...
