Yesterday’s Hogs and Pigs report showed total inventory at 77.5 million head, 99 percent of 1 December 2019. The breeding herd was 6.28 million head, 97 percent of last year, which was smaller than the 2 percent drop expected pre-report. Market hog inventory was 71.2 million head which was 99 percent of last year and the July-August quarter. Notably, the market hogs by weight category showed feeder pigs under 50 pounds a little higher than expected and heavy hogs a little lower than expected. In all, it showed post-COVID steps toward a more normal market situation and a sign of slower growth going into 2021.
The pig crop was 35 million head, 99 percent of 2019 on farrowings of 3.16 million head, also 99 percent...
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...
