A Senior Risk Management Analyst with HAMS Marketing Services suggests China will be a key market to watch moving into the second quarter of 2023.
The U.S. Department of Agriculture released its Hogs and Pigs Report for the first quarter of 2023 March 30th.
Paul Marchand, a Senior Risk Management Analyst with HAMS Marketing Services, notes a two percent reduction in slaughter hog numbers predicted in the December report has turned into a slight increase in numbers.
Clip-Paul Marchand-HAMS Marketing Services:
The USDA usually has it pretty good and I was a little surprised that there wasn't more backlash, why where the USDA numbers off by so much?
When you did the math there was almost a four percent variance between what the USDA had implied would be available at the December Hogs and Pigs Report relative to what was actually being marketed at the beginning of the year.
The USDA has generally a good track record of implying what's going to be available for slaughter on the live hog market with the Hogs and Pigs Report.Click here to see more...
Now that we have that supply side into the equation, it's really going to about demand at this point and there are some things to keep an eye out for.