USDA will release the quarterly Hogs and Pigs report tomorrow. All hogs and pigs as of 1 June are expected to be down 0.7 percent from last year to 72.641 million head, which would be the lowest quarterly inventory since 2018.
Analysts’ forecasts are for the totals to come in slightly below last year’s levels across most categories, with only sows kept for breeding and market hogs 180 pounds or more dropping more than 1 percent.
If accurate, the breeding herd estimate would imply the lowest number for June since 2017. March to May farrowings are forecast at 98.6 percent of last year, and June to August farrowing intentions are forecast at 99.4 percent of last year. The pig crop in March to May is...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
