Hog Prices-Markets
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Two million hogs remain backed up on farms today. U.S. hog farmers face $5 billion in losses due to COVID-19. Hog farmers are in dire straits and need Congressional action now, experts say.
During volatile times in the pork industry, one of the most critical relationships you can maintain (besides your packer) is the one with your lender. Here are five unwritten rules to improve that relationship.
A bipartisan bill is set for discussion in the North Carolina state legislature that would provide $25 million in federal CARES Act funding to help meat-processing plants add capacity and help independent producers.
With more workers critical to China/Hong Kong’s food distribution chain returning from an extended Lunar New Year holiday break, a growing backlog of imported meat will make its way more smoothly into the market.
U.S. negotiators have reached the terms of a phase-one trade deal with China that now awaits President Donald Trump’s approval.
House Democrats plan a vote next week on the U.S.-Mexico-Canada free-trade agreement.
For several weeks, farmers have been debating amongst each other the virtue of taking a Market Facilitation Program payment.
Trump abruptly escalated his trade war with China
After months of uncertainty and murky details, the agency announced per acre payments will vary by county but will range from $15 to $150.
USDA on Thursday provided more details on the 2019 Market Facilitation Program. We compiled answers to frequently asked questions.
Even though corn futures prices weakened after the June crop acreage report, using the iFarm price distribution tool there was still a 19% chance on July 9 that corn futures will be above $5 per bushel.
Hog producers say they are keeping breeding herd expansion at a low level, but there has been a recent tendency for expansion to be higher than indicated in Hogs and Pigs reports.
Inventory of all hogs and pigs on June 1, 2019, was 75.5 million head, up 4% from June 1, 2018, and up 1% from March 1, 2019. This is highest June 1 inventory since estimates began in 1964.
Hormel Foods Corp. cut its outlook for sales and profit after an outbreak of African swine fever in China raised pork costs. The shares fell the most since August 2017.
China’s second-largest pork producer, Muyuan Foods says it will continue to increase production this year, despite the challenges of ASF, as it bets on the reduced pork supply and higher prices to boost profits.
Higher tariffs on U.S. exports has weighed heavily on profits, says leaders of Chinese pork producer, WH Group, who owns Smithfield Foods.
“The safeguard trigger is obviously not good,” says Gerardo Rodriguez, USMEF regional marketing director. “But this is a result of more interest in finding U.S. pork in Panama.”
In its second quarter profit statement, Tyson projects its U.S. pork, chicken and beef units will all benefit from increased demand due to African swine fever outbreaks.
U.S. lean hog futures touched their lowest prices in nearly two months on Tuesday on the heels of concerns over elevated trade tensions between the U.S. and China.
Anxiety, stress and worry are always byproducts of low or negative profits. These are serious issues that need focus, an understanding team, expert advisors and a proactive approach.
China, the world’s biggest consumer of pork, appears poised to boost imports, lifting U.S. hog futures from the doldrums.
USDA reports live hog prices in January and February averaged below $40 for the first time in over a decade, says Chris Hurt, Purdue University.
Looking at hog sales in September 2019 using October 2019 futures the weaner breakeven was $47.32, up $2.91 for the week.
Commerce Secretary Wilbur Ross downplayed expectations for an end to U.S.-China trade war when both sides meet in Washington next week.
Farmers raising speciality hogs such as organic, Certified Humane, and heritage say their loyal customers won’t be swayed—yet—by cheaper competitors.
Hog markets fell while cattle prices were mixed.
Darren Frye, Water Street Solutions, says it was an impressive that grains, especially the soybean complex, shook off the election results, possible tariff hikes and a sharply higher dollar.