The South American soybean crop is now forecast at 235 million tonnes compared to 214 million tonnes a year ago. We have combined USDA data with private forecasts to derive our 2025 projection. The 2024 US soybean crop totaled only 121 million tonnes. China is expected to import 109 million Read more…
The USDA’s December US hog census found the herd had grown just 1% over the last year. Hog producers plan to expand the number of sows & gilts farrowed 1% over the next six months. Improvement in hog industry efficiency was reflected in a record number of pigs saved per Read more…
US Cattle on feed December 1, 2024.was down slightly on a year over year basis. Feedlot managers have been able keep their feedlot numbers reasonably close to optimal numbers despite a tight feeder cattle supply. Holding cattle longer putting on additional weight has been the critical strategy to keep feedlots Read more…
US wheat usage is projected to increase this season owing to improved export demand and price levels that have encouraged wheat as feed and boosted food usage modestly. The US wheat carryout to crop year usage ratio, a key indicator of old crop wheat futures prices, is forecast to increase Read more…
The December 1 , 2024 US hog herd Inventory likely increased compared to a year earlier.The accompanying balance table displays estimates for the fall pig crop compared to slaughter which is by now known from daily data. The September November US pig crop estimate assumes the September 2024 USDA planned Read more…
USDA projects a 5% year over year decline in US beef production in 2025 with the steepest reduction occurring in the second half of the year. April live cattle futures are already trading near the USDA projected winter/spring high. Tight feeder cattle supplies, and the outlook for tightening beef supplies Read more…
USDA reduced the US 2024/2025. corn carryout stocks projection this month reflecting strong export sales this autumn. So far the sales leap has been accomplished without the participation of China. Significant sales to China would be very positive for corn futures prices, but so far there has been no indication Read more…
Historically the November – July soybean spread has been associated with the US old crop soybean carryout. The accompanying scatter studies display the winter spread range data as a function of USDA’s winter assessment of the US old crop supply/usage balance. This month (December 2024) USDA projected the 2024/25 US Read more…