The U.S. hog market continues to struggle with prices below breakeven and a general lack of market enthusiasm. Some Observations Inventory of Beef Cows and Replacements is down over 1.3 million from a year ago. Drought and lack of profitability cutting U.S. Beef herd. This is the lowest Beef Herd inventory since 1962. Put in context of U.S. population there were 186.4 million people in the U.S. in 1962 and in 2022 there were 333.3 million.
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A lot more people to eat about the same amount of Beef. We will see record Beef prices. This will be supportive for Hog prices and makes current low hog futures a joke. Beef cut-outs 3.5 times Pork currently, you sure would hope this in itself would push Pork demand. Unfortunately, hope is not necessarily a good business plan, producing Pork that has taste that chases Beef maybe is a plan. Summary For U.S. producers it's hard to see light when you are losing money. Our observation. U.S. has less hogs, there will be significantly less Beef, Europe the major Pork export ...
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