Jim Long, President and CEO Genesus Genetics
Who would have thought on a week in November U.S. pork cut-outs would hit 90.12₵ lb. in the midst of record slaughter (last week 2,749,000).
Pork isn’t 90₵ because buyers want to pay more....
Jim Long, President and CEO Genesus Genetics
Last Friday China and the United States agreed to a phase 1 trade deal with lots of details. The main point for ag is the China commitment to purchase $50 billion in agriculture...
Jim Long, President and CEO Genesus Genetics
The U.S. hog market continued a roller coaster year with a dramatic decline in lean hog futures last week. It’s been a chaotic year with dramatic ups and downs. It’s stressful. It’s baffling...
Jim Long, President and CEO Genesus Genetics
U.S. Hog Price Makes Strong Move
Last week the average 53-54% lean market hog in USA went from 71.79 to 77.96¢ lb. A 6¢ lb. increase or $12.00 per head. Certainly, going in the...
Jim Long, President and CEO Genesus Genetics
U.S. Pork Export Sales soared last week with 351,000 metric tons purchased. Of that number 152,600 tonnes were by China combined with the week before’s 142,200.
China purchased 294,800 metric tonnes the last two...
Jim Long, President and CEO Genesus Genetics
The Wild Gyrations in the lean hog futures are best illustrated by the following:
June Lean Hog Futures
January 23 88.175
January 31 75.625
February 7 81.555
The insane drop in a week of over $25 per head...
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
2020 was one of the most challenging if not the most challenging ever in the U.S. hog industry. The slowdown and closing of slaughter plants in the early parts of the pandemic collapsed...
Jim Long, President and CEO Genesus Genetics
Last week Lean Hogs increased from $103.0₵ / lb. to $106.5₵ / lb. There appears to be a relentless ongoing price increase driven by tight supplies and good demand.
Our Observations
Weekly slaughter last week...
Jim Long, President and CEO Genesus Genetics
China's financial losses are high. We took the last quarterly reports of four publicly traded swine companies and then divided the amount to what they report as their sow numbers. The four companies...