In this inaugural Feedstuffs Precision Pork podcast, Dave Bauer, market analyst for Provimi, recaps some pork industry and market highlights and give us some things to think about for next week.
U.S. Department of Agriculture plantings and ending stocks estimates were released this past week and because this was a survey taken in the first weeks of March, and the world has changed drastically since then, Bauer notes that it's widely accepted that we'll need more time to fully grasp just what farmers will load into their planners in the weeks to follow. Quarterly grain stocks were a non-event for beans and wheat and slightly supportive of corn by number, but if we consider that last year we lost approximately 13 million acres to floods, late planning and an early winter and as of this report, at least farmers have shared the intent to bring back all those 13 million acres and a smidge more at roughly 14 million acres.
Pork exports were released on Thursday with total net sales of 38.2 million metric tons down 1% from last week and up 88% over last year. China again represents about 50% of those sales with some of the new sales represented by initial Chinese importers participating on the approved tariff waiver program. What’s this done to prices, Bauer explains.
As always: Plan today for tomorrow's success.
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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