Hog Prices-Markets
Tyson Foods Inc beat quarterly profit estimates on Monday and forecast fiscal 2022 revenue above market expectations on rising meat prices and improving demand from restaurants that reopened after COVID-19 restrictions.
The price shoppers pay for items like meat at the grocery store are expected to continue the rapid rise. An updated Consumer Price Index shows wholesale beef prices could increase 20% this year.
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.