Today, USDA released its quareterly Hogs and Pigs report for the March through May quarter. The total inventory of hogs and pigs on 1 June was 74.5 million head, which was 101 percent of June 2023, in line with pre-report expectations.
This is the second consecutive year to see an increased June inventory. Total inventory was down slightly from March, but shows a much smaller decline than the past three years.
With the June report, USDA made the following revisions, all upwards, detailed in the table below.
Note that the September to November 2023 pig crop was also revised up 0.5 percent in the March report. The table below shows the numbers from the report by catgeory compared to the pre-report expectations. The...
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...
