FEEDSTUFFS PRECISION PORK Market Report – November 6

This week’s hog market brought an accumulated slaughter after the
first four days that was the strongest opening for any week since
the big kills back in March, according to Dave Bauer, senior
market analyst with Provimi.

If this average is added to this Saturday's estimate of 272,000
head, this week's killed could land at 2.73 million head, 1.5%
over last week and 1% over last year. In recent months, this week
would be second only to the 2.73 million head over four weeks
ago.

Bauer noted that if this kill holds up for the week, chain speed
would now be just 1.5% below the stated weekly capacity of 2.767
million head. This is a great milestone for the packer and the
efforts of management and the labor force should be
applauded. 

Net new pork sales this week were up 46% over last week and up
18% versus the four-week average. Mexico, once again led with 35%
of the total followed by China at 24.5%. New 2021 sales of 800
metric tons suggest that maybe last week 7,000 metric ton sale
may have been a blip on the map, but hopefully we can see bigger
2021 sales start to be commonplace, said Bauer.

What’s ahead for producer profit margins? What influence might
the grain market have? Is $9.50 corn ahead? Bauer explains.

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. Plan today for
tomorrow’s success.


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