News this week: "USDA updated on Friday its estimates on US corn use and supply for the balance of 2011 and 2012. On the face of it, the balance sheet (page 2) appears little changed from the previous month and yet markets reacted negatively to a number of key data in both the WASDE report, the grain stocks survey and the survey of wheat seedings."

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News this week: "USDA released on Friday, December 23, the results of its quarterly survey of US hog and pig inventories as of December 1, 2011. The survey results came in close to pre-report estimates and appeared to have little impact on future markets. Rather, much of the focus these days continues to be on pork demand, particularly export demand."

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News this week: "Hog futures broke sharply lower this week as market participants worry that the

upcoming USDA Hogs and Pigs report will point to an expansion of the US hog breeding herd and

producer intentions for larger pork supplies later in 2012."

News this week: "Corn prices have been trending lower in recent weeks, which has been welcome news for livestock and poultry producers. It was not long ago that producers were looking at 2012 corn futures near $8 per bushel, a price level that was unsustainable for livestock production despite record livestock prices."

News this week: "US meat exports are on track for a record breaking year in 2011. Beef, pork, chicken and turkey exports for September were a combined 1.372 billion pounds, 203 million pounds or 17.4% higher than a year ago. A large portion of the growth in protein exports came from strong pork exports, particularly to China."

News this week: "One of the issues debated often in the industry relates to the high price of meat protein vis-à-vis high unemployment rates and uncertainty in world markets. In our view, it helps to take a step back and look at the world around, not just at your town, your state or even your country."

News this week: "The data on red meat exports released on Friday, October 14 confirmed what beef and pork prices have been showing for sometime - US beef and pork exports exploded in August. In the case of pork, August pork prices hit all time record highs and, at the time, much of the talk in the market centered around the impact of large Chinese (and other market) purchases. It appears that speculation was right on target."

News this week: "Some of the highlights from the latest hogs and pigs report may be old news at this point but we think the report bears reviewing given the implications it has for pork supplies through much of 2012. Coming into the report there was plenty of speculation as to the response of hog producers to sharply higher feed costs and record high hog prices during the Jun - Aug period."

News this week: "USDA released on Thursday afternoon its latest ‘Cold Storage’ report, offering a snapshot of the supply of beef, pork and poultry in cold storage as of August 31st, 2011. The results of the survey were generally supportive for meat prices going forward, particularly for pork and chicken. The impact on futures will likely be limited, however, as market participants are more focused on what is happening in outside markets."

News this week: "The pork cutout has declined sharply in recent weeks and this has caused packers to reduce their bids for live hogs. As packers have pulled back on their bids, producers have seen hogs start to back up in their barns pressuring overall hog prices."

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News this week: "Higher corn prices will continue to pressure hog and pork prices in 2012. Depending on how the corn harvest develops this year it will affect meat protein prices not just in 2011 but 2012 and beyond. The situation is particularly difficult in the case of beef where high feed costs and exceptional drought conditions in Texas and surrounding areas are causing a massive liquidation of the beef cow herd."

News this week: "USDA issued a particularly bullish August supply/demand report as corn and soybean production forecasts were well below the July estimates and on the low end of analysts pre- report guesses. The August report is always highly anticipated as it represents the first attempt to project corn production based on actual field observations. It was even more so this year due to record high corn prices this summer and speculation that high July temperatures over much of the Midwest likely damaged the crop during the critical pollination phase."

News this week: "All the talk in Washington last week focused on the possibility of a technical US default and the impact this will have on the US economy, long term interest rates and the outlook for US government spending. It is interesting to note, however, that while equity markets were pressured all week by the default speculation, livestock futures held up quite well." 

News this Week: "Hog futures have bounced back recently on strong seasonal demand and expectations of limited product availability in the domestic market. Seasonal demand at this time of year is nothing new but markets were rattled somewhat earlier this spring, in part due to extremely wet and cold conditions which stifled grilling demand into Memorial Day."

News this Week: "The corn market pulls back but livestock profits remain elusive. The USDA

published the results of a farmer survey showing more corn planted than earlier expected. USDA

also issued the results of the quarterly grain stocks survey (as of June 1) which also showed

significantly more corn in warehouses than the market was expecting."

News this Week: "In previous issues, we have discussed at length some of the main drivers for US meat and grain prices in 2011 and 2012. On the supply side, we continue to see lower meat production levels across the board. The supply situation in the domestic market becomes even more precarious when we consider booming exports of beef, pork and grains and sharply lower imports."