Agricultural economists shared their forecast prices for the next several quarters following the Sept. 27 announcement of the September 2018 Quarterly Hogs and Pigs Report in a teleconference funded by the Pork Checkoff.
The numbers came in as economists expected in the September Quarterly Hogs and Pigs Report. According to USDA’s inventory of all hogs and pigs on Sept. 1, 2018, total inventory was 75.5 million, up 3% from a year ago.
Chicago Mercantile Exchange hog futures dropped to a five-month low on Thursday. Traders said big supplies dashed any hope from the news that China made its biggest purchase of U.S. pork in seven weeks.
Washington County, Iowa is a large pork producing state. Any disruption like the risk of African Swine Fever on U.S. soil would be a crisis for producers and their communities. AgDay national reporter Betsy Jibben has the story from Washington County, Iowa.
It’s clear the Polar Vortex had an impact on pork production after a very hot start to the year, says Dustin Baker, director of economics and domestic production issues at the National Pork Producers Council.
The USDA’s estimates of Sept. 1 grains stocks pressured the price for both corn and soybeans much higher than expected. University of Illinois agricultural economist Todd Hubbs shares his weekly outlook.