Today, USDA released its quarterly Hogs and Pigs report for the June through August quarter. The total inventory of hogs and pigs on 1 Spetmeber was 76.48 milllion head, which was up from 76.133 million head in 2023.
Typically, inventories grow from 1 June and peak for the year on 1 September, dropping back down on 1 December; 2018 and 2022 were the exceptions where 1 December inventories grew above the September inventory. The 2024 1 September inventory was up 2.6 percent from the inventory on 1 June. That compares to an average of 2.7 percent from 2018 to 2023, despite those years seeing some voliatility.
Note that the 1 June inventory was revised with the September report. Other revisions made in today...
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...
