USDA released a bearish quarterly Hogs and Pigs report this afternoon, with all categories coming in above the consensus pre-report expectations. The report shows four new records:
All hogs and pigs inventory on 1 June
Market hog inventory on 1 June
Pig crop for the March-May quarter
Pigs saved per litter for the March-May quarter
The hog sector is on a remarkable run of production efficiency gains. Pigs saved per litter were 11.01 for the quarter, which compares to last year at 11. That caps off a string of four consecutive quarters of records for the respective quarters. The data go back to 1970.
Sows farrowing during March-May totaled 3.17 million head, 101 percent of 2019. The industry exp...
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...
