Jim Long President – CEO Genesus Inc. email@example.com
Our Week Was Interesting
November 23, 2015
This past week we had an interesting week travelling in Texas, Colorado, Kansas, Oklahoma, and Arkansas.
- Monday Night – Texas – tornadoes within 8 miles from where we were staying. Rained hard in area where it never rains.
- Tuesday Night – Western Kansas – Colorado Border – blizzard. Got the opportunity to stop and stay in a Motel built before Colour TV! That night I was happy that it was still operating.
- Wednesday Night – Wichita Kansas – 1:37 AM Earthquake – shook Hotel and its windows, 4.0 strength centered in Cherokee, Oklahoma.
- Thursday Night – Thank goodness on the plains and no mountains with volcanoes.
- Western Kansas and Texas – Milo piled outside at almost every elevator, there was a big crop. Harvest is done from what we can see except for one cornfield North of Wichita.
- Everywhere we went, producers are conscious of where the hog market is now. There is edginess and all are looking at ways to improve their cost of production.
- Producers are certainly seeing the collapse of Soybean Meal prices. In July $350 per ton, now down to $283.
- Lean Hog Futures had a recovery this past week with December up $2.65 Friday to Friday. Unfortunately, 57.45 a pound lean is still a losing proposition.
- US hog marketings last week were 2.4 million down from 2.243 million a year ago same week. We believe this is the first week this year that weekly marketings are below previous year. In September 1st USDA Hog and Pigs Report there was an indication that weights between 50-119 pounds was up 3% year over year. Under 50 pounds had no year over year difference. We expect that we are now marketing hogs in the weight range of Sept. 1st inventory that was 50-100 pounds. We expect year over year hog numbers to be similar going forward and that will be positive for the hog market.
Categorised in: Pork Commentary
This post was written by Genesus