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Livestock

Update on the Livestock and Meat Situation

Recorded April 28, 2020 | Purdue ag economists Jayson Lusk and James Mintert review the shifts in pork and beef production resulting from COVID-19 along with the impact these shifts have had on U.S. wholesale beef and pork prices as well as prices for cattle and hogs.

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COVID-19 Impacts on Pork and Beef

Processing plant closures sharply reduced livestock slaughter volume for both cattle and hogs in recent weeks. Federally inspected cattle slaughter the week ending April 25th, at 469 thousand head, was down 27% compared both to the first week of 2020 and the same week a year earlier.

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COVID-19’s Impacts on U.S. Food and Agriculture Webinar

Recorded April 20, 2020 | Purdue ag economists Jayson Lusk, Michael Langemeier, and James Mintert examine COVID-19’s impact on U.S. food and agriculture.

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U.S. Is A Pork Export Powerhouse

Recent disruptions to economic activity around the world as a result of the Corona virus have served to reemphasize the importance of trade to the U.S. pork industry. Trade in pork products has grown as the U.S. has turned into a pork export powerhouse.

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Prospects for Swine Feed Costs in 2020

Recent trends in feed costs for farrow-to-finish and swine finishing enterprises, and projections for 2020.  Feed costs are expected to be similar to that experienced in 2019.  However, current projections have a wide band around them.

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Cattle Finishing Net Return Prospects for 2020

At the end of 2019, fed cattle prices were $122.00. This increase in fed cattle prices had a large impact on cattle finishing profitability in the fourth quarter of 2019. Moreover, fed cattle prices are predicted to remain strong through at least the second quarter of 2020.

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Swine Finishing Feed Cost Prospects

Corn prices have been quite volatile in 2019. Corn prices in Indiana were approximately $3.70 per bushel in April, $4.55 in July, and $3.90 in December. Given the uncertainty regarding what gets planted to large amount of acres that were not planted in 2019 (i.e., prevent plant acres), corn prices are likely to also be volatile in 2020.

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Ag Outlook: Looking Beyond the 2020 Crop Year

Top Farmer 2020 slidedeck presentation by Chad Hart, Associate Professor of Economics, Iowa State University. Examine the current outlook for corn and soybeans, but also take a longer view of what’s ahead for the U.S. ag economy and the management implications for the next several years.

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U.S. Cattle & Hog Sectors

Chicago Federal Reserve 2019 presentation by James Mintert.

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Long-Term Trends in Pigs per Litter

A simple linear trend was used to predict pigs per litter for each year.  The annual growth rate in pigs per litter was 0.10 pigs per year or 1.07 percent.  This may seem small, however, over the 26-year period, this equates to 2.57 pigs or an increase of approximately 32 percent.

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