“With a lot of people still kind of locked down due to the COVID-19 crisis, I would guess you’re going to see a lot of backyard BBQ,” says Jim McCormick, hedging strategist with AgMarket.Net.
The ripple effects of Smithfield Foods’ processing plant in Sioux Falls will have far-reaching effects on the industry, leaders in some of the top pork-producing states say.
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.
“We are far from the end of this,” says Arlan Suderman of INTL FC Stone.
Those are the words many in the lindustry wonder when it comes to the hogs and African swine fever (ASF).
Mike North of Commodity Risk Management Group and Chip Nellinger of Blue Reef Agri-Marketing are on the U.S. Farm Report marketing roundtable with Tyne Morgan.
Chip Nellinger of Blue Reef Agri-Marketing and Mike North of Commodity Risk Management Group are talking about the week ahead on AgDay with Clinton Griffiths.
On Markets Now, Tyne Morgan talks with Michael Langemeier, ag economist with Purdue University; Christ Hurt, ag economist with Purdue University; and Jim Mintert, director of the center for commercial agriculture.
Two of the better-known indicators of the farm economy, Creighton University’s Rural Mainstreet Index and The Purdue/CME Group Ag Economy Barometer, have both turned higher in January, showing improved moods.
There’s been some political back-and-forth between China and the U.S. Traders and farmers alike have been watching to see if China does anything with U.S. soybeans.
On Thursday, the USDA released its monthly World Agricultural Supply and Demand Estimates (WASDE) report, showing corn is seeing increased exports and reduced stocks.