What should we be thinking about for next week? Bauer says it may well be a slowing of the production chain that could translate into a slowing of late phase performance in on-farm finishing units.
In this week’s episode, Dave Bauer, market analyst for Provimi, recaps some pork industry and market highlights as well as shares some things to think about going into the new week.
On Thursday, the U.S. Department of Agriculture released its weekly pork exports report showing a marketing year high totaling 55,900 metric tons. China again was the biggest buyer purchasing 71% of the total and its highest weekly bookings for the year. The real sauce to the weekly report was that weekly shipments were again strong at 39,200 metric tons, down 2.5% from year ago. China was again responsible for over 40% of those shipments. Bauer discusses what this means.
He also looks at cash trends that supported futures a week ago but have fallen hard this week, putting a lid on the rally in June hog futures at 44% of the $30/cwt. drop of the past three weeks. As Bauer explains this is largely due to the backlog of pork that has occurred with the closing in the foodservice sector. Take a listen to find out where prices and the demand situation are headed.
What should we be thinking about for next week? Bauer says it may well be a slowing of the production chain that could translate into a slowing of late phase performance in on-farm finishing units.
Stay tune. These are unusual times and it will pay dividends to be well prepared, which is what Feedstuffs Precision Pork is all about, giving you the information you need to run a more precise pork system.
For questions on this week's recap or to discuss other market questions, just ASK DAVE.
As always: Plan today for tomorrow's success.
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