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Pork Commentary: USDA June Quarterly Hogs and Pigs Report

30 Jun 2015

• 30 Jun 12:55

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Last Friday the USDA released the June 1st Quarterly Hogs and Pigs Report, writes Jim Long President – CEO Genesus Inc.At first glance the June 1 Hogs and Pigs Report is bearish. 4 plus million market hogs in inventory is a daunting number compared to last year. On a 25 week production cycle an average 180,000 more market hogs a week. The current hog cash market is a disappointment. Prices are significantly lower than last year at 48? lean a pound lower or about $100 per head. That is a huge decrease. Last year we projected that PED had increased market hogs by $30 - $40 per head. We were wrong. Again, looking at current prices it was closer to $100 per head. PED. Read more...