Jim Long, President and CEO Genesus Genetics
U.S. Pork Cut-outs Continue to Strengthen
This past week we saw some improvement once again in pork cut-outs. A week ago, last Friday they were $68.95 while on Friday the pork cut-outs closed $71.19....
Jim Long, President and CEO Genesus Genetics
For the second week in a row, U.S. market hog harvest was higher than a year ago. 2,457,000 vs. 2,439,000. We can only hope that U.S. plants can continue to ramp up production....
Jim Long, President and CEO Genesus Genetics
Last week we observed that U.S. harvest weights were decreasing. This totally baffles us. There is no doubt the official USDA slaughter numbers have been significantly lower for the last six weeks compared...
Jim Long, President and CEO Genesus Genetics
About a month ago President Trump and Ag Secretary Perdue announced the Coronavirus Food Assistant Program (CFAP). At the end of last week some more details were announced re hogs.
Hogs Eligible
Unit of Measure
ACT...
Jim Long, President and CEO Genesus Genetics
Last week U.S. Pork Packers started to recover some production capacity lost to Coronavirus plant issues.
Weekly Harvests totals:
Week of May 1st - 1.553 million
Week of May 8th - 1.775 million
Week of...
Jim Long, President and CEO Genesus Genetics
Last week U.S. Pork Packers started to recover some production capacity lost to Coronavirus plant issues.
U.S. 2-day Harvest - Friday (May 8th) and Saturday (May 9th):
Last week - 554,000;
Prior week - 403,000;
...
Jim Long, President and CEO Genesus Genetics
The U.S harvested 1,545,000 hogs last week. At least 1 million heads less then it should have. No doubt a real calamity. Too many packing plants closed and others not running at full capacity....
Jim Long, President and CEO Genesus Genetics
Bad news seems to be becoming worse news. Below some observations:
At the time of writing, hog slaughter plants closed: Tyson- Waterloo and Logansport; Smithfield- Sioux Falls; JBS- Worthington. Roughly combined 80,000 head per...
Jim Long, President and CEO Genesus Genetics
The last great debacle the North American Industry had was in late 2008. Market Hogs got to 8₵ lb., too many Hogs for Packer Capacity, the price collapsed.
When the dust settled many of...
Jim Long, President and CEO Genesus Genetics
If Misery loves company, we have a real hootenanny* going.
(*Scottish word, meaning party)
The Utter Collapse of the U.S. and some other countries' pork markets is unprecedented. Coronavirus and what it has done to...