since the US hog breeding stock hit a new high of World War II, resulting in raw pig prices hit a new low since 16 years, although in order to meet global demand, hog slaughter also set a record.
Due to the effects of African swine fever in many Asian countries, US pig farmers were expected to benefit from the increase in exports. However, despite Monday’s US hog slaughter reach the highest single-day record, but government data show, raw pig price has hit its lowest level since 2003 this season.
With ample pork supply in the United States, producers cannot take advantage of the growing demand. In recent years, as international demand has increased, pork prices have risen, new meat packaging plants have been put into operation, and lower feed costs have kept US pig farmers expanding their herds, which has now resulted in US pig stocks hitting 1943. New high since.
Zaner Ag Hed Group Chief Marketing Strategist Ted. Ted Seifried said: “The truth is that we have a lot of upfront supply. We really want to believe in this bullish story, but the truth is that the bullish story has not rescued us from the supply problem. “
According to the data of the US Department of Agriculture, as of September 1, the number of pigs in the US reached 77.678 million. The USDA will update this data on December 23.
Government data showed that the average US hog price on Monday was only 43.57 cents per pound, down 9% from a year ago. Monday ’s slaughter of pigs is estimated at 497,000 heads, a single-day high.
Post time: Dec-06-2019