Hog Prices-Markets
Retail pork prices set an all-time high in April at $4.32 per lb, up 3.8% from March and 11% higher than last year. Retail prices for Choice beef reached $6.76 per lb, up 4.2% from March and 4.8% from a year ago.
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.
March beef and pork exports each posted the highest monthly value on record. Pork exports and shipments of beef muscle cuts also set new volume records in March.
A federal judge in Minnesota granted another class action pork price-fixing settlement between JBS USA and Commercial and Institutional Indirect Purchaser Plaintiffs on April 15.
China imported 1.02 million metric tons of meat in March, customs data showed on Tuesday, the highest monthly volume since at least January 2020, as the world’s biggest meat buyer stocked up to fill shortages at home.
February exports of U.S. pork and beef remained below the rapid pace established in early 2020. Still, exports were consistent with USMEF’s February projections. Here’s a look at the numbers.
Proposition 12, California’s animal welfare rule, is slated to take effect on Jan. 1, 2022. But with these new regulations still mired in a legal battle, the pork industry is left in limbo, Rabobank says.
The value of the U.S. dollar has weakened substantially in the past year and CoBank analysts expect it to experience modest deflation in 2021. This may be good news or not-so-good news depending on the commodity.
During USDA’s 97th Agricultural Outlook Forum, USDA chief economist Seth Meyer provided insight into what the livestock and poultry sectors can expect in 2021.
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).
USDA late Wednesday posted notice that $2.3 billion in supplemental Coronavirus Food Assistance Program (CFAP) payments will be temporarily frozen.
Flexibility remains critical for animal protein industry, CoBank says, as foodservice sales are not likely to reach pre-pandemic levels before mid-2022.
Driven by higher estimates for pork, the China total meat import forecasts were revised up for both 2020 and 2021, according to the USDA Livestock and Poultry World Markets and Trade report.
Despite guidance from international health organizations stating imported food shipments are an unlikely source of COVID-19 transmission, the Chinese government implemented sample testing procedures at ports of entry.
When it comes to meat export markets, particularly pork, 2020 was a year to remember. Here’s why 2021 holds promise for both U.S. pork and beef export opportunities.
The coronavirus aid package approved by Congress overnight Monday provides $13 billion in ag funding, much of it destined for sectors left out of previous aid packages.
“The early part of the year should look very different than the latter, but in total, economic growth is estimated to be about 4%, following a retreat of roughly 4% in 2020,” says Dan Kowalski.
To protect essential frontline workers, JBS USA has voluntarily removed hundreds of at-risk workers from a Greeley, Colo., beef plant in response to rising COVID-19 infections in the community.
The report says total crop receipts are expected to increase $6.5 billion from 2019 levels. Total animal product receipts are expected to decrease $9.7 billion.
The first shipment of breeding pigs to utilize the Livestock Export and Inspection Facility at St. Louis Lambert took off for Sao Paulo, Brazil on Nov. 11, making history as they left aboard a Boeing 747-400F.
On Nov. 9, more than 200 local meat and poultry processors in Iowa were awarded Meat Processing and Expansion Grants from the Iowa Department of Agriculture and Land Stewardship.
Agricultural producers and professionals focused on livestock risk management are invited to a free webinar on livestock markets, price risk and risk management options available through USDA.
Pork exports continue to maintain a record pace in 2020, increasing 10% year-over-year in September. Beef exports were fairly steady with last year in major Asian markets, but trended lower overall.
Rich Nelson of Allendale says corn and soybeans showed resilience rallying into the close on strong demand. However, he thinks it may be exporters front loading their purchases. Cattle reverse in reaction to the McDonald’s E.coli story.