Hurricane Florence and Hogs Hurricane Florence is headed to the Carolinas, and anticipation of its impact on North Carolina’s hog production and processing capacity has been whipsawing lean hog futures. As of approximately 8 A.M. (EDT) this morning, the storm was predicted to move slightly south of the original path. However, it is still expected to hammer an area key to pork production around Wilmington and Cape Fear.
North Carolina is home to approximately 12 percent of hog production and 10 percent of processing capacity. Smithfield has closed two plants: Tar Heel (32,500 head/day capacity) and Clinton (10,600 head/day capacity). Also in the swath of the storm is its Gwaltney, Virginia plant (10,200 head/day capacity). The hurr...
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...
