The worst is behind us as “green shoots” appear in the pork industry

It's been a tough time for those in the pork industry but "green shoots" of hope are appearing with slaughter numbers picking up this week.
calendar icon 11 May 2020
clock icon 5 minute read

US soybean cake and meal net sales of 131,400 MT for 2019/2020 were down 20 percent from the previous week and 15 percent from the prior four-week average. Increases primarily for Colombia (21,100 MT, including decreases of 4,100 MT), Honduras (19,900 MT, including 6,000 MT switched from El Salvador), Ecuador (17,200 MT, including decreases of 5,500 MT), El Salvador (15,200 MT, including 8,400 MT switched from Guatemala ), and Peru (12,000 MT), were offset by reductions for Canada (10,400 MT). For 2020/2021, net sales of 39,800 MT were for unknown destinations (30,000 MT) and Panama (9,800 MT). Exports of 260,200 MT were up 27 percent from the previous week and 3 percent from the prior four-week average. The destinations were primarily to the Philippines (92,000 MT), Colombia (47,500 MT), Ecuador (31,700 MT), Canada (23,300 MT), and Guatemala (13,200 MT).

US lean hog futures graph showing a positive uptrend in price

© Jim Wyckoff

US soybean meal futures graph showing a positive uptrend in prices

© Jim Wyckoff

US corn futures graph showing a positive uptrend in prices

© Jim Wyckoff

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