Cattle analyst Jim Wyckoff shared pig information from around the globe
8 December 2023
2 minute learn
February lean hog futures costs proceed to development decrease at the day-to-day chart. The CME lean hog index is right now at $69.60 (as of Dec. 4). The initial calculation places the index down an extra 17 cents to $69.43 for lately. December futures stay round $2.00 underneath the CME index. The outlook stays bearish for the hog marketplace as provides are nearing annual highs. After Christmas, call for for hams has a tendency to drop sharply till the Easter Vacation. At the certain aspect, recent red meat costs final above $80.00 in spite of ample red meat provides suggests excellent US store red meat call for.
Global Group for Animal Well being (WOAH) is asking for extra checking out of African Swine Fever (ASF) vaccines
In particular the vaccine produced via AVAC Vietnam JSC. This determination comes after Vietnam introduced plans to export 5 million doses of its ASF vaccine. WOAH expressed considerations that AVAC Vietnam has now not shared enough information with global researchers and organizations, in spite of the corporate saying the security and effectiveness in their vaccine.
Gregorio Torres, head of the science division at WOAH, emphasised the desire for additional checking out at the AVAC vaccine, whilst AVAC’s leader running officer, Nguyen Van Diep, said that they’ve shared vaccine information and that their vaccine has been safely utilized in 17 provinces. The AVAC vaccine was once to begin with came upon via USDA researchers however evolved in Vietnam because of the absence of the ASF virus in the USA.
USDA clarified that it didn’t have get right of entry to to the trial information from Vietnam.
In the meantime, WOAH is actively discussing new international requirements for comparing ASF vaccines, with attainable approval anticipated in Might. Every other vaccine produced in Vietnam, additionally according to a USDA platform, has shared certain trial information and is recently present process checking out within the Dominican Republic. ASF vaccination has been a vital focal point for the U.S. trade because of the absence of the virus in the USA.
Smithfield Meals ends contracts with 26 Utah pig farms, bringing up oversupply
Smithfield Meals stated on Tuesday it’s going to finish contracts with 26 hog farms in Utah, in the newest contraction via the arena’s greatest red meat processor. An organization observation cited an “trade oversupply of red meat, weaker client call for and excessive feed costs: as demanding situations.
The following week’s most likely high-low worth buying and selling levels:
February lean hog futures–$65.80 to $73.00 and with a sideways-lower bias
March soybean meal futures–$380.00 to $410.00, and with a sideways-lower bias
March corn futures–$4.70 1/2 to $5.00 and a sideways bias
Newest analytical day-to-day charts lean hog, soybean meal and corn futures
