USDA will release its June quarterly Hogs and Pigs report on Thursday. The expectation is a total herd of 72.016 million head, that is down 0.7 percent from June 2022.
The last quarterly report in March was the first March report that didn’t show a drop in inventory since 2020, weeks before COVID. It also showed the smallest drop from the December to February quarter since 2019. If the pre-report expectations are correct, this will be the third June over June drop in a row, and the third consecutive March to June drop. Farrowing intentions are expected to be down about 3 percent. Behind that number is the increase in sow slaughter; over the past two months sow slaughter is up about 7 percent while slaughter of barrows...
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...