Steve Meyer

Vice President, Pork Analysis,
Express Markets Inc. Analytics

Steve Meyer, vice president of pork analysis for Express Markets Inc. Analytics of Fort Wayne, Ind. Express Markets and EMI Analytics have been involved in price discovery and analysis for the broiler industry since 2003. They added similar capabilities for turkey in 2008 and have recently added market analysis of pork and beef markets to their product offerings in order to meet the broad information and knowledge needs of customers throughout the meat and poultry production, processing and marketing systems. In May of 2015, Meyer sold Paragon Economics to Express Markets Inc. He brings a wealth of experience in the livestock industry, having served as director of economics for the National Pork Producers Council (1993-2001), and held the same position for the National Pork Board from 2001 to October 2002. In that capacity, Steve provided economic counsel to producers and Pork Board staff and coordinated staff and consultants’ activities regarding meat industry production, price forecasts and the economic impact of pork production and processing. In addition, he administered NPPC programs dealing with marketing and pricing systems, structure, pork industry coordination and competitiveness. Previously, Steve served as a swine business specialist with Moorman Manufacturing Co., a sales representative with Dow Chemical and sales manager for an animal health and agricultural chemical distributor. In addition, he spent three years as an assistant professor in the agriculture economics department at the University of Missouri.

5 ‘impact’ factors of new hog processing plants
Magnitude of new hog plants is almost impossible to determine because so many other factors — domestic demand, export demand, hog numbers, timing of growth, etc. — will be at play.
Though possibly flawed, report friendly to deferred hog prices
It looks like the highs may be in for summer futures but you can still lock-in mid- to upper-$70s, or better, for cash hogs if you haven’t already done so. October futures of $67 and $62 for December still look much better than my forecasts for fourth quarter hogs.
With eye on demand, continue to drive pork value
Real per capita expenditures for pork, a metric used to represent the state of consumer-level pork demand, was down 5% from one year ago but still 13.5% larger than the 2011-15 average for January.
Hogs and pigs report presents cause for concern
A big concern for hog markets this year is whether supplies will out-strip packing capacity this fall, and a look into the December Hogs and Pigs report uncovers some cause for concern this fall.
PEDV, PRRS and semen extender impacting markets
Hog weights have, as expected, remained below year-ago levels so far in 2016. The average weight of all hogs (which includes sows, boars and lightweight hogs) has been down, on average, 0.7% versus 2015.
Cold storage report friendly to hogs; inventories still large
Pork inventories are still large but the December change was much larger than normal even as we set a record for pork production per slaughter day. December pork production of 2.207 billion pounds carcass weight was the second highest ever.
New avian influenza strain takes flight
New avian influenza flu not seen in the U.S.could create headaches for Midwest turkey and egg producers. The impact to the hog market is a wait and see game.
COOL repeal brings Ontario weaners south
Repeal of country-of-origin labeling has short-term result of Canadian finishers and weaners coming to the United States — all in the name of free and fair trade.
2016 brings lots of hog market questions
Summer futures prices are profitable and fall contracts would yield relatively small losses for low-cost producers, but will cash prices match those levels when we arrive at those distant months?
December Hogs & Pigs Report: Friendly, but ominous
The USDA’s quarterly Hogs and Pigs Report released Dec. 23 was friendly for Lean Hogs futures next spring and summer, but included productivity figures that confirm my concerns about supplies and high slaughter capacity utilization next fall.
Analysts expecting year-on-year growth to moderate
The average of analysts’ expectations for lighter-weight inventories, the September-to-November pig crop and farrowing intentions all point to 2016 hog numbers similar to those of 2015.
Profit luster gone, expansion plans still in the works
I don’t detect a lot of “gung ho” or “damn the torpedoes” attitudes out there, but I do sense some resolve to push forward with expansion plans that have been in place for a long time and may have been shelved in 2014.
WTO news is bad; October exports were good
World Trade Organization announces Canadian and Mexican COOL retaliation levels, but the October export numbers add a little good news to the mix.
Large animal protein supply available for consumers
Pork inventories actually declined by 9% in October, but remained significantly larger (13.1%) than one year ago.
Good news: Hog market finding its bottom
Hog markets seem to be finding a bottom. That’s good news. I just wish the bottom wasn’t quite so low. Every futures contract has gained $3 to $5 over the past week and, this could well be the high-water mark for hog slaughter this fall.
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