In this week's episode of Feedstuffs Precision Pork, market analyst Dave Bauer of Provimi, recaps some pork industry and market highlights and lists some of the things to think about in preparation for next week.
Memorial Day Weekend. It is when summer officially kicks off. Thank you to all of those fallen soldiers ahead of us. To all current veterans, active service men and women and healthcare workers and first responders, all the best. To everyone else, be safe and eat gobs of pork this weekend.
The U.S. Department of Agriculture released its monthly cold storage report May 21. Over the past three years, there has typically been an average 4.5% built in the April over March inventory. Inventory supply chain disruption at the plant production level has simply restricted inventory from building at a time when both domestic and export drivers are competing for those limited supplies. This is adding an interesting twist to the market, according to Bauer.
Weekly pork exports took an alternative tone this past week as net pork sales were actually negative, reflecting a drop of 5,800 metric tons. This is what happens when the U.S. wholesale pork market adds 112% in value over four weeks. The run from $53 to $115/cwt. really changed the dynamic of trade and in this week's report, all the major players had cancellations listed in their net sales and shipments. Bauer explains what to expect in the coming week in terms of buying.
Daily harvest is growing and now running at about 80% of pre-code levels, but, as Bauer explains, the range in profitability is still $50 to $75 a head. What should you be thinking about for next week? Take a listen and get the scoop here.
These are uncertain times and it will pay dividends to be well-prepared. If you have questions on this week's recap or want to discuss something not covered, feel free to ASK DAVE at David_Bauer@cargill.com. Thanks for listening and make sure you plan today for tomorrow’s success.
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