Grimes and Plain
Hog Outlook: Pork Exports Up, Slaughter Down
U.S. pork exports during March were up 0.2% and pork imports were down 3.4% compared to a year earlier. During the first quarter of 2010, pork exports were up 1.3% and imports were down 3.1%. We started the year expecting 2010 pork exports to total 10% more than in 2009.
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Cattle Outlook: Steer Cascass Weights 17 Pounds Lighter Than A Year Ago
The financial crisis in Greece has created a lot of jitters in world
markets, including here in the U.S. One important byproduct is that the
U.S. dollar has strengthened, which is not good news for U.S. exporters.
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Hog Outlook: April Hog Prices Most Profitable Month Since August 2006
Are this week’s hog prices the highest ever? Because of changes in
price reporting systems (and my limited data), it is difficult to say
exactly when hog prices were the highest.
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Hog Outlook: Sow Slaughter Dropping, Pork Cutout Value Higher Than A Year Ago
Pigs per litter have increased in Canada, but not as fast as in the
U.S. The first quarter of 2010 saw a Canadian average of 9.9 pigs per
litter, up 0.7% from the year before. They are 0.3 pigs/litter ahead of
us, but the gap has been cut in half over the last 3 years.
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Cattle Outlook: Steer Carcass Weights & Slaughter Lower Than 2009
USDA’s April cattle on feed report said the number of cattle placed on
feed during March was up 2.7% while marketings were up 4.3%. The
increase in placements was smaller than most analysts expected. The
on-feed number for April 1 was 3.5% lower than a year ago and the
lowest April inventory in 6 years.
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Hog Slaughter By U.S. & State (2009 vs. 2010)
Hog kill totaled 10.03 million head, up 4 percent from March 2009. The average live weight was unchanged from the previous year, at 272 pounds.
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Hog Outlook: Wholesale Pork Prices Rising Fast
During the first two months of 2010, U.S. pork exports were up 1.9%.
Our number 1 foreign customer, Japan, purchased less U.S. pork; but
Mexico and Canada, numbers 2 and 3, each imported more pork from the
U.S. Pork shipments to Hong Kong were up, but shipments to Mainland
China continue to be very low.
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Cattle Outlook: Steer Carcass Weights Lighter Than A Year Ago
International beef trade at the start of 2010 has been positive. During
January and February, U.S. beef imports were down 23% and beef exports
were up 24% compared to the same months of 2009. Increased exports and
lower imports reduced the domestic beef supply by 164 million pounds.
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Cattle Outlook: Slaughter Up 2.8 Percent From Last Year, Steer Weights Lower
It appears that the U.S. and Brazil have reached an agreement to settle
our long running cotton dispute. Brazil has agreed to forego $830
million of WTO approved retaliation for U.S. cotton subsidies in return
for cash, a modification of our export loan program, and perhaps, the
right to send more meat to the U.S.
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Hog Outlook: Cash & Lean Futures End Week Higher
USDA has lowered their forecast of 2010 pork production by 100 million
pounds following the March hogs and pigs report and raised their
forecast of 2010 price by $3/cwt live. The higher expected price has
caused them to lower that forecast of pork exports.
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Hog Outlook: Calculated Cutout Value Up $15 Compared To This Time Last Year
USDA’s March hogs and pigs report is more bullish than the pre-release
trade forecasts. USDA’s estimate of the total number of hogs and pigs
on U.S. farms at the start of March was down 2.8% compared to 12 months
earlier.
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- Post-tornado composting a solution for disposal of dead livestock
- Cornell genetic testing process cuts cost by up to 75 percent
- Angus Foundation receives $28,500 from “The Card Challenge”
- Commentary: In praise of animal foods
- 100K Pathogen Genome Project maps first genomes
- Beef exports depend on quality reputation
- Michigan hay buyers should plan purchases early
- New animal identification rules aid disease traceability
- Corn planting pace turns from record slow to record fast
- U.S. cattle placements rise in April as feed costs subside
- Survey reveals most Americans in favor of COOL
- Ag markets were mixed to start the new week
