USDA released its quarterly Hogs and Pigs report yesterday after the market close, and it confirmed pre-report industry expectations of more hogs, pigs, farrowings and, of course, pork. The total inventory of hogs and pigs as of 1 September was 75.5 million head, 103 percent of 1 September 2017 as well as the previous quarter. Market hogs totaled 69.2 million head, also 103 percent of year-ago levels and 104 percent of last quarter.
Sows kept for breeding totaled 6.33 million head, 103 percent of last year and just slightly more (10,000 head) than the previous quarter. Sows farrowing during the last quarter were 50 percent of the breeding herd at 3.19 million head or 103 percent of the same quarter a year ago. Further, production effici...
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...
