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AgDay Daily Recap -May 7, 2014

May 7, 2014
 
 

TODAY ON AGDAY

MAY 7, 2014

 

RABOBANK PORK:

GOOD MORNING I'M TYNE MORGAN IN FOR CLINTON GRIFFITHS. THE DEADLY PORCINE EPIDIMIC DIAHREA VIRUS PLAGUING the NATION'S SWINE HERD CONTINUES TO BE A CONCERN FOR THE GLOBAL PORK MARKETS. BUT SHOULD IT?

PEDV:

IF WE TAKE THE USDA INVENTORY NUMBERS, WHICH COME FROM WHAT PRODUCERS SAID THEY HAD AS FAR AS BABY PIGS, IT COMES OUT WE'RE ALREADY IN EXPANSION MODE IN THE HOG INDUSTRY . FARROWING WAS UP 3 PERCENT IN WINTER. WE LOST 7 SEVEN PERCENT OF THE BABY PIGS. BUT THAT LEFT US WITH FOUR PERCENT TO COME TO MARKET IN LATE SPRING AND SUMMER. PLUS WE'LL GAIN FOUR PERCENT IN WEIGHT. SO WE'LL ONLY BE DOWN TWO PERCENT ACCORDING TO USDA INVENSTORY ON PORK SUPPLIES THIS SPRING AND SUMMER.) MAY LEAN HOGS CLOSED AROUND 115-DOLLARS THURSDAY, DOWN FROM THE 130 RANGE WE SAW LAST MONTH. WHILE DOWN, PROFESSOR HURT STILL SEES A PROFITABLE YEAR FOR U-S PORK PRODUCERS. RABOBANK SAYS THE ONE WILD CARD IS CHINA, AS IT'S A SITUATION OF TOO MUCH PORK THERE. THAT'S BECAUSE OF MANY PRODUCERS LIQUIDATING.

MEXICO U.S. BEEF:

AFTER A DECADE, MEXICO SAYS IT WILL SOON RESUME IMPORTS OF U-S BEEF FROM CATTLE OF ANY AGE. MEXICAN OFFICIALS ARE MAKING THE REGULATORY CHANGES NOW. THIS MEANS THE 30-MONTH CATTE AGE LIMIT WILL BE REMOVED. THOSE RESTRICTIONS GO ALL THE WAY BACK TO MARCH OF 2004 WHEN B-S-E WAS DISCOVERED IN THE U.S.

CROP EMERGENCE:

COOL AND WET TEMPERATURES HAVEN'T PLAYED IN THE FAVOR OF FARMERS IN THE NORTHERN CORN BELT. AS WE FIRST REPORTED YESTERDAY, SIX OF THE TOP CORN GROWING STATES HAVE NO CORN EMERGING YET.

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