Pork price optimism grows for 2019 outlook
University of Illinois analysis notes current hog prices below costs with record production and ongoing trade disputes weighing on values yet Purdue economist Chris Hurt forecasts lean hog futures to rise in spring and summer 2019. Higher hog numbers, fading trade frictions, and global demand could lift prices, despite a near term downturn.
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Purdue University
Chris Hurt
Hart
U.S
China
Mexico
USDA
USMCA
Canada
Pork production to rise in 2019 amid export, cost pressures
Purdue economist Chris Hart projects a about 3 percent rise in pork output for 2018 and 2019 with higher inventories and more pigs per litter. Prices are seen averaging in the mid to upper 40s this winter and mid 50s in 2019, though 2019 costs may edge up to 51. Trade tensions have hurt profits, with 2018 losses estimated at about 120 per head. 2019 could see breakeven or modest profits if export demand improves.
MENTIONED IN THIS ARTICLE
Purdue University
Chris Hart
Hart
Farrow
U.S
Hurt
Large U S beef recall over salmonella fears expands
The USDA said a unit of Brazil's JBS Tolleson is recalling more than 12 million pounds of raw beef shipped across the United States after confirming Salmonella contamination. The agency notes 246 illnesses and urges disposal of any products in freezers, while reminding proper cooking kills the bacteria.
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U.S
New York
Uss
U.S. Department of Agriculture
Brazil
JBS
JBS Tolleson
Arizona
USDA
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