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.

Pork prices to struggle in competition for the consumer 1
As hog prices fall, producers begin to ask "what are pork prices doing?" Lower hog prices are usually driven by higher production and that means more product on the market. Everyone wants to make sure the market is cleared and that takes lower prices. The question of course is one of degree: Just how much lower is needed?
November U.S. export data good news, bad news
Bad news: Exports were down again on both a month-over-month and year-over-year basis. Total U.S. pork exports of 364 million pounds, carcass weight equivalent, were 4.4% lower than in October and 19.8% lower than one year ago. And the good news? The lower exports meant more product in the United States.
’15 will be good; just not as good as ’14
2015 will not be as good as 2014. That’s the bad news. The good news is that 2015 will still be a good year; at least from a financial standpoint. Finances aren’t everything, of course, and there could be many factors that make this your best year ever. Don’t forget them. In fact, focus on them because family, friends, community and spiritual matters are the real stuff of which life is made.
Pre-report survey confirms most are expecting growth in hog numbers in report
The U.S. Department of Agriculture’s quarterly Hogs and Pigs report will be released tomorrow at 2 p.m. CT. This is the first time in memory that the report has been released before Christmas. The December report has hardly ever been released on a Friday as customarily are the other three quarterly reports. The USDA has normally timed the December report to leave at least one full trading day before the end of the year so market participants can adjust positions per the report before the end of the calendar year.
Deciphering the Breeding Herd Tricky
A tricky aspect of hog market analysis this fall and winter will be deciphering what is going on with the breeding herd. Some may say “Well what’s new about that?” and I would have to concede the point that deciphering what is going on with the breeding herd is always a challenge.
Number of Economic Factors Play into ’15 Hog Markets
Whether the demand strength of 2013 and 2014 can be extended through next year is a major question regarding the outlook for pork markets. Improving macro-economic conditions, lower gasoline prices and extremely high beef prices all support continued strong demand. Lower chicken prices and a stronger U.S. dollar will be negative for demand. The balance of those issues will be critical to hog and pork market performance.
Lowest October Cold Storage Since 1996
The U.S. Department of Agriculture’s November Cold Storage report indicated continued tight freezer supplies for all meat and poultry. The Oct. 31 inventory of 1.949 billion pounds of beef, pork, chicken and turkey in U.S. freezers was the lowest October total since 1996, and the first such figure under 2 billion pounds since 2001.
Much Hangs in the Balance of Hog Markets
The next few weeks will be critical for next summer’s supply situation. The number of total PEDV case accessions has been rising and I heard anecdotal reports last week of a growing number of breaks in nursery and finishing sites.
Pork, Beef Big Winners in Meat Demand
Last week’s monthly exports completed the data needed to compute per capita consumption for September. The export data were not terribly positive but their implications for consumption and, when combined with retail prices, pork demand were good indeed.
Lack of PEDV-Positive Sow Farms Means More Pigs on the Way
How bad will porcine epidemic diarrhea virus be this winter? That remains the most pressing question about hog and pork markets in 2015 though the cost side of the equation has already poised us for profits – and good ones relative to any year in history except for 2014.
Opportunity Remains for Pork to Capture Market Share
The tight beef supply situation will not change soon. Improved pasture conditions and record profits are driving beef cow herd expansion that will keep cows and heifers at home. Burgers and steaks are going to remain pricey. The opportunity for pork to capture market share remains.
‘Usual Suspects’ Play Role in Fall Hog Prices
To see Lean Hogs futures prices fall in October is not an unusual occurrence. To see them fall $5.75 in two days without any real critical market development is another thing entirely. I’m not real sure exactly what happened but there are a few “usual suspects” that likely played a role.
Don't Put All Your 'Eggs' in One Basket
The old poultry-based admonition “Don’t put all your eggs in one basket” works for three reasons. The first is the well-known fragility of eggs. Second is the minimal protection afforded by a basket and third, of course, is the notorious undependability of basket carriers. It is not hard to see corollaries of all three in today’s hog and pork markets.
‘Bearish’ Report Results in Minor Changes in Forecasts, Lean Hog Futures
The USDA Hogs and Pigs Report, that almost everyone thought was bearish, resulted in only minor changes in analysts’ forecasts. It also had little negative impact on Lean Hogs futures as well. After small losses on Sept. 29, the trend has been higher across the board, with strength the greatest for the summer contracts.
Report Indicates Swine Industry has Taken Advantage of PEDV Impact
The U.S. Department of Agriculture’s Hogs and Pigs report, released on Friday, indicates that the U.S. industry has moved quickly to take advantage of record profits and backfill productivity losses caused by porcine epidemic diarrhea virus.
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