China's slowing economy and higer prices together with other factors are leading to slower consumer demand for pork and a decline in hog production. While this is likely to lead to greater import demand into 2016, it will be tempered by the devaluation of the yuan. China: Lower Yuan, Less Hogs China is facing two key pressures this year: a declining economy that has led to the yuan's devaluation and high hog/pork prices. Hog prices there grew from about $0.85/pound in mid-April to $1.28/pound in mid-August. The slowing of the economy and rising prices have affected consumer demand. There has been a switch from pork to seafood consumption as well as a number of foot-and-mouth disease (FMD) outbreaks that have led to further culling. Chines...
What You Need to Know Today: A third U.S. border crossing (Columbus, New Mexico) has reopened to Mexican cattle imports following nearly two years of restrictions related to New World screwworm. The reopening could gradually improve feeder cattle availability, although more than 60 confi...
Yesterday, the USDA’s Agricultural Marketing Service (AMS) released a new report of negotiated cash purchases of cattle under the mandatory price report. The report included Colorado, New Mexico, Oklahoma, Texas, and Kansas. The goal of the report was to solve the confidentiality issues e...
Key Takeaways: U.S. soybean crushing began in 1911 and saw its most rapid expansion during the 1930s amid the broader agricultural and technology revolutions of the time. After peaking in the early 2000s, the soybean crushing industry went through a downturn as poor crush margins forced...
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