Economists shared their insights and research of the USDA Quarterly Hogs and Pigs File all through a webinar hosted by means of the Red meat Checkoff.
Hogs and Pigs File Economists
The Red meat Checkoff hosted a webinar following the document free up and invited two visitor economists to proportion their perception and research of the document. Moreover, Dr. David Newman mentioned developing beef call for.
Visitors integrated:
- Dr. Steve Meyer, Lead Economist, Companions for Manufacturing Agriculture
- Dr. Tyler Cozzens, Agricultural Economist, Farm animals Advertising and marketing Data Heart
- Dr. David Newman, Senior Vice President, Marketplace Expansion, NPB
- Moderator: Jessica Campbell, Ohio Red meat Manufacturer and NPB Board Member
A Glimpse Into the Numbers
USDA launched its Quarterly Hogs and Pigs File on June 29. The document confirmed on June 1, 2023:
- All hogs and pigs used to be 72.4 million head, reasonably up from closing yr however down 1% from the March 1 stock.
- Breeding stock used to be 6.15 million head, reasonably down from closing yr however up 1% from March 1 stock.
- Marketplace hog stock used to be 66.2 million head, reasonably up from closing yr however down 1% from March 1 stock.
- The March-Would possibly 2023 pig crop used to be 32.9 million head, up 1% from 2022.
- Sows farrowing totaled 2.90 million head, down 2% from 2022.
- The typical pigs stored in keeping with clutter used to be 11.36, in comparison to 11.00 in 2022.
Key Problems Using the Red meat Marketplace
Dr. Meyer stated 3 key problems will force beef markets within the coming months:
- California’s Proposition 12
- Declining beef call for
- Emerging manufacturing Prices
Dr. Tyler Cozzens Research
Dr. Steve Meyer Research
Dr. David Newman – Growing Red meat Call for
Complete Webinar Recording
The perspectives expressed on this webinar by means of our invited visitors are theirs and no longer the ones of the Nationwide Red meat Board. The Nationwide Red meat Board does no longer suggest or endorse any specific manufacturing or advertising and marketing route.