Jason Franken, WIU ag economist and contributor to the University of Illinois farmdoc team, forecasts hog prices for the next four quarters following the recent USDA Hogs and Pigs Report.
USDA’s March Hogs and Pigs report places the March 1 inventory of all hogs and pigs at 72.209 million head, down about 3% from last quarter and 2.3% from the prior March, compared to pre-report estimates of 1.2% lower.
The USDA’s December Hogs and Pigs report places the Dec. 1 inventory of all hogs and pigs at 74.2 million head, down about 1% from last quarter and 4% lower than the same time last year.
The USDA’s June Hogs and Pigs report places the June 1 inventory of all hogs and pigs at 75.7 million head, up about 1% from last quarter and down 2% from a year ago, consistent with pre-report expectations.
The USDA’s March Hogs and Pigs report estimates represent the first March-over-March reduction since 2014, says Jason Franken, Western Illinois University ag economist. Here’s his perspective on the pork outlook.
Jason Franken, agricultural economist at Western Illinois University and contributor to the University of Illinois farmdoc team, weighs in on the USDA’s December Hogs and Pigs report.
USDA’s acreage numbers injected a substantial amount of uncertainty into both markets that appears set to stay in place throughout the summer, according to University of Illinois agricultural economist Todd Hubbs.
