We estimate the US hog inventory totaled 71.5 million head on June 1 compared to the year over year comparison of 72.3 million head. Our estimate assumes farmers stuck to the one percent cut in March/May sows farrowing intentions expressed in the March 2023 survey. The June Hogs & Pigs Read more…
US feedlot feeder cattle placements and finished cattle sales both dropped sharply last month. Expensive feeder cattle replacements and high feed costs drove down placements and marketings last month. We project finished cattle marketings will decline 5% this summer and autumn. August live cattle are trading well below the cash Read more…
The United States Department of Agriculture (USDA) recently released its prospective soybean supply/usage balance for the 2023/2024 marketing year. The balance shows that the United States is expected to produce a record soybean crop of 4.5 billion bushels. This is up 200+ million bushels from the previous year and would Read more…
The US Department of Agriculture (USDA) projects a buildup in US corn carryout stocks during the 2023/2024 crop year. The USDA’s latest World Agricultural Supply and Demand Estimates (WASDE) report projects that corn carryout stocks will reach 2.2 billion bushels in 2023/2024, up from 1.4 billion bushels in 2022/2023. There Read more…
The US Department of Agriculture (USDA) has forecast a drop in the 2024 beef supply. The USDA’s forecast is based on a shrinking cattle herd. The US cattle herd has been declining for several years, and this trend is expected to continue in 2024. This is due to a number Read more…