The dairy industry continues to struggle financially.
The supply and demand fundamentals continue to balance each other well, which is why prices continue to chop and traded in this sideways pattern. Yet be aware of what might be lurking ahead.
Hog slaughter for the week came to 2.215 million head, according to USDA’s weekly packer survey.
It’s helpful to examine how dramatic the shift has been in U.S. meat exports.
A top in this market is likely due anytime now, this marketing firm believes.
Hog prices are expected to increase in 2017 even with 3% more pork production.
At a minimum, this firm is bearish through the end of August.
According to market analyst Rich Nelson, the current rally in the cattle markets is a gift horse for those who still need to hedge cattle for the remainder of the year.
New figures suggest the cattle herd is continuing to grow. A growing herd means continued and stronger demand for corn.