Hogs - General
Report expected to show All Hogs & Pigs at 101.3% of year-ago.
United States inventory of all hogs and pigs on December 1, 2011 was 65.9 million head.
Report garnered muted immediate reaction from the market.
Year-to-date pork production up 1.1% from year-ago, beef production down 0.3%.
The dollar amount of pork and beef shipped overseas is set to make a new record.
The food price index rose from last month, but the drop in energy was more than offsetting.
Says Commission should take immediate action and punish any wrongdoing.
USTR says they are considering appealing the panel’s decision.
Consumers’ attitude toward economy, job market improve.
Says Districts reported mostly favorable ag conditions.
Restaurant operators optimistic about growth in the months ahead.
A repeating pattern is forming to bring more active weather.
This is good news for red meat demand as restaurant owners are more optimistic.
The normal season pattern is for a 15% drop in pork cutout from early September to late October.
Dressed cattle weights still 10 lbs. lighter than year-ago; hog weights down 3 lbs. from year-ago.
Signals pork demand wasn’t as strong as expected, or supplies were higher.
Slips back to a level last seen during the 2008-2009 recession.
One-category improvement in some Midwest areas.
Weights still below year-ago, but cattle weights narrowing the gap.
Pork imports expected to rise 8% in 2012 due to continued strong demand.
Sees slight expansion in cattle herd, hog herd holding steady.
Export demand remains a bright spot for cattle and hog markets.
Stronger hog prices and lower feed costs have put the pork outlook back into the black for the coming year.
Cold Storage Report positive for cattle and hog futures.
The answer will depend on many factors including the size of the U.S. corn crop.