AgResource Hog Comment and Analysis
** Hogs Trade Weaker on Softer Cash Index: CME hog futures were lower at the close on Tuesday, while the CME Lean Hog Index was down $1.11 at $58.46. The Feb WASDE estimates were mixed for the hog market. The USDA raised the 1st quarter production estimate by 100 Mil Lbs on larger than expected…
AgResource Analysis of the February USDA Report
ARC also highlights currently abundant soil moisture across the Plains and Midwest. A more normal, slightly drier pattern will be desired across the Southern Midwest SRW Belt this spring, but our work broadly suggests that abundant soil moisture even as early as Feb 1 correlates strongly with above-trend winter wheat yields. The major exporter wheat…
AgResource Analysis of the February USDA Report
The USDA again tightened the US and exporter wheat balance sheets. US wheat exports were raised 25 Mil Bu to 1,000 Mil – a 5-year high. Competitive US prices are cited. ARC has raised our own estimate 25 Mil to 975 Mil. There’s nothing yet in pace analysis to suggest a higher number and moving…