Last Friday USDA released its quarterly Hogs and Pigs report for the September through November quarter. The total inventory of hogs and pigs on 1 December was 74.971 million head, which was up marginally from December 2022. The inventory, however, came in below the consensus pre-report expectation.
With the December 2023 report, USDA revised the 1 December 2022 inventory upwards by 1.837 million head from the original estimate, making the revised inventory estimate for 2022 74.956 million head. All quarters in 2023 were revised higher.
The inventory of hogs and pigs on 1 December 2023 was down marginally from the previous quarter, which ended on 1 September. This was in line historically with a smaller December inventory compared to...
The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to: Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet aga...
Key Market Insights Geopolitical Limbo: Geopolitical risk remained a key driver across global commodity markets today. President Trump stated that the Iran memorandum of understanding is not yet final and warned that military action could resume if negotiations fail. Both sides continue w...
Key Takeaways: Drought remains a major threat to global agricultural production, particularly in regions with limited rainfall and growing water scarcity. Commercially available drought-tolerant traits in corn, soybeans, and wheat have generally delivered modest yield improvements, limiting th...
