Jim Long, President and CEO Genesus Genetics
Last year at this time we were at the start of the Covid crisis in our industry. A year ago Lean Hogs were 39₵ lb. Last week they were $1.01 lb. on a...
Jim Long, President and CEO Genesus Genetics
The March 1st U.S. Hogs and Pigs Report indicates fewer Breeding Pigs and Market Hogs.
Our observations:
Breeding Herd
Date
Year
1,000s head
Dec 1st
2019
6471
Dec 1st
2020
6276
March 1st
2021
6215
The U.S. breeding stock peaked at 6,471,000 on the Dec 1, 2019 inventory....
Jim Long, President and CEO Genesus Genetics
The most recent week U.S. Pork Export Sales were 59,600 metric tonnes. Of that 28,200 were to China. Both numbers the highest since September. Quite a positive sign with U.S. hog supply declining...
Jim Long, President and CEO Genesus Genetics
IowaSouthern Minnesota Lean Hog Price closed last Friday at 79.81₵ lb. It has risen from 63.97₵ lb. average in December. Last February IowaSouthern Minnesota averaged 58.33₵ lb. The last time IowaSouthern Minnesota was...
Jim Long, President and CEO Genesus Genetics
We read in several places where some speculate lean hog futures are over-bought. We disagree. Our reason is that the U.S. Pork cut-out price is in the low 90’s. This despite weekly kills...
Jim Long, President and CEO Genesus Genetics
U.S. Pork cut-outs closed Friday at 88.38 ¢ lb. A very strong price in our opinion considering a weekly slaughter of 2,664,000. What will cut-outs be when slaughter in summer months declines to...
Jim Long, President and CEO Genesus Genetics
Last Friday July Lean Hog Futures reached 90₵. This is a new high for July 2021 – a long way from mid-August last summer when July was 75₵. An increase of over $30...
Jim Long, President and CEO Genesus Genetics
At the end of December the USDA estimates U.S. Pork in cold storage was 408,361 (1,000 pounds) a year. A year ago it was 580,464. Down 30% and a ten year low.
In our...
Jim Long, President and CEO Genesus Genetics
Summer month lean hog futures hit new contract highs last Friday at 87.20₵/lb. Significantly up from last June at 71₵ or mid-August at 74.50₵.
We remember mid-August as that was when a certain Ag-economist...
Jim Long, President and CEO Genesus Genetics
Last week there was chatter about pork demand. The bears attacked the market. When the dust settled Friday, U.S. pork cut-outs were still over 80₵. The market held - a positive sign.
We expect...