Hog slaughter is running about 3.7 percent below last year, but live slaughter weights/carcass weights are up so the drop in pork production is only about 3 percent. Live weights are following their seasonal pattern of dropping during the hot summer weather but going into August and early September there could be more lighter-weight and fewer hogs marketed given weather forecasts – the opposite of cattle where drought has led to liquidation for the first half of the year.
The impact of drought and heat has been significant on the cattle market, but it is worth noting that hogs are more sensitive to heat than most species. It’s not always top of mind but the hog market can also be impacted by weather. Swine don’t perspi...
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...
