US hog producers not quite at the point of liquidation
The USDA’s Economic Research Service in a recent outlook reports that recent slaughter dynamics and higher sow prices in August indicate that pig producers have not yet responded to the record-high feed prices with full-liquidation of their assets.
Fourth quarter pork production is be higher by 1.6% than production last year. Q4 pork production is forecast to be 2.86 billion kg.
July export data show increased growth in pork exports to Mexico, China, Canada, and Russia, and lessened exports to Japan and South Korea.
Source: USDA ERS
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