Ethanol plants and DDG facilities closing is a hit to the livestock industry. This is as some producers begin to switch feed rations based on price, availability and in an effort to keep weights from getting too high.
Plunging sales and plant closures are all creating a crisis right now for the pork industry. Hogs are stacking up on farms with farmers scrambling to find places to process them as the value per hog plummets.
The Smithfield Foods plant in Sioux Falls announced it was closing until further notice. As of Tuesday, 438 total workers have tested positive with COVID-19. That’s an increase of nearly 100 overnight.
The latest Sterling Profit Tracker shows Farrow-to-finish pork producers saw their margins decline last week. A year ago, pork producers earned 40-dollars per head. Pork packers saw average profits of $14 per head.
The hog herd is expanding. That’s according to the USDA Quarterly Hogs and Pigs report. Numbers are increasing in all categories compared to one year ago. How expansion continues amid COVID-19 is anyone’s guess.
Tyson Foods Inc. delivered a mixed bag of quarterly results while retaining an upbeat global meat outlook based on China’s efforts to fill a protein gap because of African swine fever and easing trade tensions.