USDA released a much anticipated quarterly Hogs and Pigs report for September today. At 73.8 million head, the total inventory as of 1 September followed the seasonal pattern of peaking for the year in September but was down from last year. This is third consecutive year-over-year decline in the September inventory, and the lowest September inventory since 2017.
Nonetheless, the report was generally in line with the pre-report expectations. The breeding herd and the June through August pig crop were slightly below the consensus forecasts, as were lighter weight feeder pigs. Like the overall swine herd, the breeding herd and market hog inventory are also the lowest since 2017.
Compared to the June report, the Septembe...
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...