Jim Long Pork Commentary: Let’s deal with some positives

Last week US 53-54 percent lean hogs increased from 58.47 to 61.78 - $6.00 plus a head.
Last week USDA pork cut-outs went from 69₵ to 80₵ lb. - $22.00 plus a head
Latest US.weekly Pork Exports were 43,000 tonnes, down 4 percent from previous week's record number (China 15,580 MT).
US Pork Exports continue to run almost double a year ago.
calendar icon 25 March 2020
clock icon 4 minute read
  • Certainly fewer hogs marketed in general this Jan-Feb. We expect due to ASF and Coronavirus logistic issues.
  • Last year on the first of February China's price for market hogs was 12.23 rmb/kg.
    (82.61₵ US Liveweight a lb.).
  • This year Feb. first, China's price for market hogs was 36.43 rmb/kg
    ($2.38 US liveweight a lb.)
  • China is certainly short of pork.

Summary

It appears unlike many commodities and products, the Coronavirus issue has not depressed hog prices if anything they have gotten stronger.

Toilet paper demand, Lysol demand, and Pork demand are some of the few things that can say demand is better in the Coronavirus crisis.

Jim Long

President - CEO at Genesus Genetics
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