The pent-up global pork demand is finally starting to take effect, and it would appear just in time for U.S. producers. July pork exports from the U.S. were 233,242 MT. That is an all-time monthly record (ahead of the previous record set in April 2018) and 132 percent of July 2018. Moreover, the value of those exports was $623.3 million, which was 134 percent of the same month last year and an all-time monthly record beating the previous high mark from November 2017. That has helped hog prices move above their three-year average.
Pork production typically increases in the September-November quarter with more hogs coming to market at heavier weights. On top of that seasonal pattern, however, the pig crop during the March...
Beef packer margins improved to -$130/head last week, up $44 from the prior week as sharply lower fed cattle prices more than offset continued seasonal weakness in the Choice cutout. The cutout declined to $373/cwt while fed cattle prices fell to $238/cwt, allowing packer spreads to recover for...
What You Need to Know Today: The conflict between the U.S. and Iran continues to escalate with the two sides exchanging attacks over the weekend. President Trump said Iran “will pay” for recent attacks that claimed the lives of U.S. troops stationed in Jordan. There are some signs...
