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: 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...
