USDA released its quarterly Hogs and Pigs report today with most all categories coming in near pre-report expectations. Total inventory was 75.7 million head, at 98 percent of 1 June 2020 and 101 percent of 1 March 2021. The March to May pig crop was below the pre-report forecasts. Pigs saved per litter were 10.95 compared to 11 last year.
This was the first year-over-year drop in the June hogs and pigs inventory since the porcine epidemic diarrhea virus (PEDv) in 2014. The year-over-year comparison (for this and probably the next two quarterly reports) is less instructive than typical, however, because June 2020 reflected the disruption to harvest caused by COVID. Starting the first week of April, slaughter dropped five consecutiv...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
