Smallest hog herd since 2016

USDA’s latest hog and pig inventory put the U.S. herd at 73.1 million head as of Dec. 1, down 2 percent from December 2021 and the lowest Dec. 1 total since 2016. This year’s mix of drought, high feed costs, and declining demand for [...]

Domestic cattle herd grows as demand slows

USDA’s December milk production for the week leading into Christmas showed a 1,000-head revision higher in the previous herd number and a further 1,000-head addition from October into November. This raises the national heard to a one-year high, up 38,000 heifers from November 2021. [...]

Current market dynamics for corn to linger into 2023

Futures activity Mar-23 futures settle at $6.6625 ahead of the holiday weekend. On Wednesday, Dec. 21, the contract settled above the 20-day moving average for the first time since early November and managed to hold on to higher values during quiet trade yesterday and [...]

Domestic food CPI reported up 0.7% in October, up 11% YOY

In its October Consumer Price Index (CPI) reporting, ERS calculated that the price to consumers for all food rose 0.7 percent in September. YOY, the food CPI was reported up nearly 11 percent YOY. Of note is the growth in prices of food away [...]

Cold weather over Kansas could be trouble for wheat

This week’s developing winter storm is bringing notable temperature declines (10°F to 30°F below average) over the Plains and Midwest. Over the next few days, the coldest conditions are expected to move east and south across the U.S. The southern Plains will be slightly [...]

Ivory Coast cocoa arrivals surge 7% in December

After a disappointing start to the season in October and November that saw cocoa bean arrivals down double digits, strong December arrivals have allowed the total volume to not just catch up but surpass last year’s pace. In a reversal of fortunes, season-to-date arrivals [...]

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