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Last week the USDA released their estimate for the 2023 corn crop. USDA projection is 15.320 billion bushels, the largest ever. If estimate is correct, it would be 172 million bushels higher than the former record crop in 2016....
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Last week the U.S. hog price reached over $1.00 lean and carcass cut-outs closed at $1.08 lb. Friday. To keep in context this April 24th Iowa – Minnesota price was 67.44¢ and last Thursday $1.00.61 lb. A $65 plus...
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Observations
USDA reports Breeding Herd and Market Hog Herd same as a year ago.
Farrowing last quarter down 2% from a year ago with projections of farrowing down 4%.
March 1 Breeding Herd was 6,096 – June 1,...
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U.S. Pork in cold storage at the end of May was 525,000 lbs. down 4% from a year ago. The first time we have had lower pork storage year over year for several months. U.S. weekly pork production...
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In the first quarter this year (Jan-Mar) European pig production declined significantly. Europe has had about double U.S. production for many years. Europe is the United States Number 1 competitor for global pork exports.
Europe had declined 1 million sows...
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This past week was the World Pork Expo in Des Moines, Iowa. Our report:
Seemed to be less people there than last year.
As you would expect the reality of ongoing negative margins dampened enthusiasm.
Producers are tired of...
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This coming week is the World Pork Expo in Des Moines, Iowa. We have been attending for decades and as we look back, we realize the huge change our industry has been through.
Once there were thousands of independent producers,...
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Every day we hear of different entities deciding to cut sow production. To say it's major seems to us an understatement. The industry financial losses are significant. It’s not just what has happened the last few months but a...
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Iowa – S. Minnesota cash hogs were 67.44¢ on April 24th. Last Friday (May 19) they were 87.73¢ lb. A 20¢ lb. gain in 3 weeks or up over $40 per head. Still a price that leads to losing...
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Last week the U.S. Supreme Court ruled that California’s Proposition 12 can proceed. The law means in simple terms sows must be in gestation pens at 24 sq. ft. to have their fresh Pork sold in California.
The ruling is...
