Hog Prices-Markets
The concept of “goal-based marketing” is easy to understand. The strategy links the sale of crops or livestock to a goal for your business.
China’s pork production is expected to decline 14% in 2022, while pork imports are expected to climb 5.1 MT with consumer demand exceeding domestic production, according to a USDA attaché report released last week.
After JBS confirmed a cyberattack shuttered some of its processing plants, USDA’s daily cattle slaughter estimates revealed 94,000 head of cattle were processed on Tuesday, a drop of 27,000 head compared to last week.
Less than two weeks after JBS was hit with a cyberattack impacting operations in Australia and North America, Congress is now calling on JBS to provide documents and communications related to the May 30 attack.
Chinese buyers bought 1.36 million tonnes of U.S. corn, matching their seventh biggest ever purchase of U.S. supplies of the grain, the U.S. Agriculture Department said on Friday.
A tradition for more than 100 years will now be a thing of the past. The CME Group announced this week it’s not reopening the open outcry pits on the trading floor, which means the tradition will be gone for good.
USDA revealed COVID-19 is still impacting U.S. pork supplies. The latest Hogs and Pigs Report showed a surprise reduction in overall numbers, including sows.
The Senate has scheduled a vote on Tom Vilsack’s nomination for Secretary of Agriculture on Feb. 23. In early February, the Senate Agriculture Committee unanimously approved President Biden’s pick to lead USDA.
Whether it’s to fulfill Phase One promised, or an increased need for feed, some say the timing of the record Chinese buys isn’t a coincidence. So, what’s driving the record demand from China?
Senate Agriculture Committee Chairwoman Debbie Stabenow (D-Mich.) says she supports the Biden Administration’s move to freeze payments under the Coronavirus Food Assistance Program (CFAP).