ASF and Turkey Turkey prices have been in a relative tailspin for two years. Wholesale hen prices started dropping in mid-2017 from about $1/pound and reached below $0.80/pound by December 2018. Prices have firmed in the past few months, largely due to exports, and a good portion of those sales has been the result of Mexico’s hedging against the African swine fever (ASF) impact on pork prices. Turkey can be used as a substitute for pork in processed products.
Total U.S. turkey exports in April were 108 percent of April 2018, which marked the first year-over-year growth since October 2018. In May, exports were 121.5 percent of May 2018. Mexico bought 16,000 MT that month, a year-over-year increase of 117 percent. However, other cou...
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...
