What's ahead for the hog market? Senior market analyst David Bauer of Provimi takes a look.
Dave Bauer, senior market analyst for Provimi, is back with us to offer some market perspective and recap some pork industry and market highlights. He also lists some of the things to think about as we prepare for next week.
Germany continues to find new cases of African swine fever in wild boar in its Eastern state of Brandenburg. In China, people are crowding into buses, trains and even using air travel to visit family for the fall festival season. Port authorities there continue to search for any signs of COVID on imported packaging and work to keep track of COVID cases and plants that export fresh and prepared food items to them.
Slaughter plants in the U.S., even though they have been able to put together a few daily runs in the 485,000 head range, still have days where they fall 5,000 to 15,000 head short of a day's expectations. Recent data has bumped the daily kill capacity from 507,000 to 512,000 head but putting a full week together in this new post COVID environment is still full of challenges. Weekly kills of 2.6 million head seem to be the norm and run about 96% of pre COVID pace.
And then there's the quarterly grain stocks report that shocked everyone with its drop and available grain stocks for both corn and beans, providing another report that has everyone's scratching their heads.
So what do these things mean for hog producers? What does the margin profile look like? Bauer fills us in. Take a listen.
As Bauer points out, these are uncertain times and it will pay dividends to be well-prepared. If you have questions on this week’s recap or want to discuss something not covered, feel free to ASK DAVE at David_Bauer@cargill.com. Plan today for tomorrow’s success.
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