Are we behaving like a bunch of cattle feeders, frittering away all possibility of profit to keep facilities filled? I don’t think so. My production costs model based on Iowa State University’s (ISU) historic costs and returns series says that, at current corn and soybean meal prices, May market hogs should cost about $156 to produce.
For the fourth year in a row, U.S. pork exports eclipsed the $6 billion mark. In 2014, 4.803 billion bounds of pork and pork variety meats valued at $6.674 billion were exported, up 2% and 10%, respectively from 2013....More
First quarter hog slaughter subsided a bit last week, dropping by 0.8% from the week before to 2.262 million head. That figure was still 5.6% larger than last year at a time when the December Hogs and Pigs report indicated that hog supplies should be about 0.5% higher. The average estimated live weight for all hogs dropped another 2 pounds to 284 while the all-hogs estimated carcass weight remained steady at 2015, 1% higher than one year ago....More
A diverse coalition of nearly 400 organizations representing agriculture, conservation, rural development and religious groups have written the leadership of the House and Senate Budget Committees urging them to reject any requests to cut programs within the farm bill....More
The U.S. Department of Agriculture announced it is providing a one-time extension for producers to update yield history or reallocate base acres. Producers will now have until March 31 to make changes....More
Trans Pacific Partnership is a 21st century trade agreement that will promote job growth, increase farm income, generate greater rural economic activity and help expand U.S. agricultural exports to some of the fastest growing countries in the Asia-Pacific region....More
It was good news that a deal has been struck to resolve the West Coast port labor dispute, but the backlog of product was confirmed in the USDA's Cold Storage report. It will take some time to work through that backlog of product....More
A tentative five-year labor agreement was reached last Friday between the Pacific Maritime Association and the International Longshore and Warehouse Union that covers all 29 West Coast ports after nine months of negotiations....More