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Editor's
Note
If you are wondering why the National Hog Farmer's
Weekly Preview showed up in your Inbox on Monday instead of the
usual Friday delivery, there's a good reason. When we recently changed
the title to "Weekly Preview," (formerly North American
Preview), it became obvious that the e-newsletter should arrive at
the beginning of the week. The change also allows Steve Meyer to offer
the most current information in the "Competing Meats - Production &
Price Summary" table, which always appears at the end of his weekly
column. We will continue to position the National Hog Farmer Weekly
Preview to serve as a resource for pork producers, swine industry
academia and allied industry representatives. It is our goal to deliver
up-to-date marketing, financial, swine health and legislative news and
information that will impact your business in the coming weeks. We
welcome your thoughts and suggestions.
Yours for a better pork industry,
Dale Miller, Editor
dpmiller@nationalhogfarmer.com
952-851-4661
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Stuff
Happens!
One of the big advantages of the new Weekly Preview
publication schedule is that readers will get fresh data on prior week
supplies and prices (see attached table). You will now see Friday’s
week-ending data on the following Monday morning. Except for this
Monday morning for any of you who are particularly interested in
Canadian data and prices. I apologize, but the Agriculture and
Agri-Food Canada website from which I download these data was not
operational over the weekend. Hopefully, they will have the problem
corrected by next week.
If any readers are now ruing the day they either a) listened to or b)
agreed with my conclusion back in March and April that a seasonal price
rally was coming and it would bring with it better pricing opportunities
for summer and fall hog sales, please realize that I am ruing the days I
said it even more so. But I have no idea how I or any other analyst
could have come to any other conclusion or could have in any way
foreseen the havoc that has been caused by the H1N1 influenza virus.
Stuff happens and this stuff happened at just about the worst possible
moment.
FULL ARTICLE
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The Swine
Industry is at a Crossroads
The H1N1 Influenza A virus has caused even more financial
pain for the industry for the month of May. Hog producers today are
receiving prices in the range of $110-$115 a head with cost of
production at $140 per head. It is estimated that the average producer
has lost an additional 5% of their equity in the last 60 days. The
average owner equity today would be below 40% and this downward trend
cannot be sustained forever. I spoke to a group this past month and they
brought to my attention their concerns about the industry and how it has
the potential to become much more integrated. I challenged this group
and encouraged them to think out–of-the-box and come up with a
solution.
Recently, a program has been formed, called the Producer Retirement
Program and the Program representatives will be at the World Pork Expo
next week. Their location will be in the Varied Industries Building at
booth number 737. They are attempting to come up with a proactive way
for producers, who have decided to retire all/part of their herd, to
receive more than slaughter prices for their sows. I would encourage
those of you who will be at WPX to stop by and get more details from
them if you have interest. Below are some facts concerning this
organization:
FULL ARTICLE
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Contract
Limitations
Contract Limitations — Senators Mike Enzi (R-WY), Chuck
Grassley (R-IA), Byron Dorgan (D-ND) and Tim Johnson (D-SD) have
introduced the Livestock Marketing Fairness Act. According to the
sponsors the bill would:
- Require that forward contracts for livestock (cattle, hogs and
lambs) be traded in public markets where buyers and sellers can witness
bids as well as make their own offers. This ensures the market is open
to multiple offers.
- Require marketing agreements to have a firm base price derived from
an external source. This ensures that local contract prices are not
subject to manipulation by packer-owned herds.
FULL ARTICLE
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Hog
Producers Sink Into More Red Ink
The H1N1 flu crisis and rising feed prices have combined
to sink the pork industry in red ink, dating back to the fall of 2007.
“While recovery in hog prices is expected as the world tries to
return to more normal consumption, the financial stress may be nearing
a breaking point for some producers,” suggests Chris Hurt, Purdue
University agricultural economist.
Hog prices were set to rise in April 2009, only to be derailed by the
April 24 announcement of a human flu outbreak that the media wrongly
dubbed “swine flu.”
“Lean carcass values closed at $61 on April 24, but just seven
trading days later, prices dropped by $10,” Hurt says.
FULL ARTICLE
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June 3-5, 2009 World Pork Expo, Iowa State
Fairgrounds, Des Moines, IA. For
details go to: www.pork.org.
June 12, 2009: Annual Pork Chop Scramble, York Country Club,
York, NE; for more information contact the Nebraska Pork Producers
Association at (888) 627-7675 or nppa@nepork.org.
FULL ARTICLE
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POSTERS
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Swine Handling & Transport Forum – Des Moines Marriott
Downtown – Des Moines, IA – June 2, 2009
The forum will provide pork producers, swine handlers and transporters
with current information about the handling, transportation and
marketing of pigs. Presented by the Pork Checkoff, National Hog
Farmer and the National Pork Producers Council. Visit pork.org for more information.
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