USDA released four reports last week with implications for the livestock and grain markets/Allendale Inc.’s chief strategist, Rich Nelson, shares highlights and what it means for the pig, cattle,poultry, corn, soybean and wheat markets. Hogs USDA's pork production estimate was increased by 35 million pounds this month on the supply/demand report. They now see 2016 output at 24.960 billion, 1.9 per cent over last year. With no change in imports or exports, US consumers will have 50.1 pounds per person waiting for them this year, which is 0.8 pounds over 2015. Don't forget, this is on top of the 7.1 pounds increase we shoved on. Read more...
Agri commodity stocks remain comfortable and are expected to limit price gains to modest levels throughout 2016 for grains and oilseeds, while hogs, sugar and coffee prices are expected to head higher. Cattle prices are expected to remain fairly stable, report Rabobank analysts. While weather problems paint a bright price outlook for coffee and sugar, grains and oilseeds are likely to be more stable prospects. Record production of grains and oilseeds from South America coupled with decent crops elsewhere materialised in very high global stock levels, which weigh on prices and limit volatility. The dollar strength, which we expect to continue through 2016, will. Read more...
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