China Boosts Pork Reserves to Stabilize Price China's National Development and Reform Commission (NDRC), the country's top planning body, announced on 8 April that the government will begin purchasing pork reserves in more than 20 provinces at a price slightly higher than that found on the market. The hog-to corn ratio, the major indicator of industry profitability, has stayed below 6-to-1, which is the breakeven point for farmers for more than four consecutive weeks. Despite the government's slightly higher offer price, it is expected that hog farmers will find it difficult to make a turnaround in the short term. Additionally, the oversupply of hogs is expected to last a while.China's hog price has been cyclical, and in recent years tha...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
Key Takeaways: WPI’s new EU rapeseed crushing margin models point to weaker processing returns over the next four months due to higher rapeseed procurement costs and weaker product values. Statistical forecasts call for German crushing margins to decline from €181/MT to €...
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