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.

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.
Live by the belly, die by the belly
Pork supplies, pork demand, packer margins - there really is not a conclusive reason for all the fireworks in the market.
September pork exports were stellar
It's a pretty good bet that pork exports will be better in the second half of the year, driving total year exports above the 2014 level.
Tough week on Lean Hogs futures; December takes biggest hit 1
It is likely that the boat has sailed on pricing hogs this fall. It shouldn’t be much of a surprise since “cash is king” and seasonal cash weakness almost always drags the futures complex down at this time of year.
Avian influenza still on minds of producers, markets
Impact of avian influenza on slaughter is expected to continue through the remainder of the year, and into early 2016, as many of the barns that were impacted have begun repopulating.
Strength of pork demand driven by consumption
Where pork demand was once being driven by large yearly increases in nominal and real retail prices, the driver for 2015 is per capita consumption. It is good news that U.S. consumers have taken that much more product.
Pork exports continue to exceed year ago levels
Pork exports were one of the few bright points in USDA’s report of August meat and poultry exports last week. USDA’s Economic Research Service reported that August pork shipments totaled 373.828 million pounds, carcass weight equivalent, 6.5 percent more than one year ago.
Hog futures offer reasonable pricing opportunities
Four main factors – disease, exports, costs and policy – are expected to drive production and the meat markets.
Hog numbers remain same; weights to track similar
The USDA’s quarterly Hogs and Pigs report contained no surprises for the trade and Lean Hogs futures reflect that fact by being quiet at mid-day on Monday.
Seneca Valley Virus could cost producers billions
An incorrect assumption diagnosis of Seneca Valley Virus could handcuff the U.S. pork industry, shutting down export trade, costing producers billions of dollars.
Lowest farrow-to-finish production costs since ’07
USDA adjusts corn, soybean yield estimates, and as a result could see farrow-to-finish hog production costs the lowest since 2007.
Hog supplies versus expectations
So how are hog supplies relative to expectations? That is always a good question to keep tabs on as it has a number of implications for markets both current and future. For the most part, our expectations of hog supplies are based on USDA’s quarterly Hogs and Pigs reports, the most recent of which has proven to be relatively accurate.
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