USDA released its quarterly hogs and pigs report today with most all categories coming in below pre-report expectations. Total inventory was 75.4 million head, at 96 percent of 1 September 2020, which was a record for the quarter. Inventory was 101 percent of 1 June.
This is the first year-over-year drop in the September hogs and pigs inventory since the porcine epidemic diarrhea virus (PEDv) in 2014 – but, again, last year was a record. The last quarterly report showed the same – the first drop year-over-year for the June inventory since 2014. The year-over-year comparison – especially for June - is less instructive than typical, however, because June 2020 reflected the disruption to harvest caused b...
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...