|Pork Commentary, October 28th, 2019|
Jim Long, President-CEO, Genesus Inc.
Sometimes it pays to look at where we are compared to a year ago.
· National Daily Base Lean Hog Price – 53-54%
– October 24, 2019_64.50 ¢ per lb.
– Oct 26, 2018_63.72 ¢ per lb.
· This past week’s hog slaughter – 2,693,000.
– A year ago, same week 2,563,000 or plus 5%
· Pork Cold Storage- September 30 up 2% from a year ago
-598,899 million pounds compared to 589,403 in 2018
· Year to date Sow slaughter on September 30
– 2018 – 2,242 million
– 2019 – 2,235 million
– Almost no change
· U.S.D.A cash average 40 lb. feeder pigs
– This past week $44.
– A year ago, same time $40.
More hogs to market (plus 5%) this year compared to last, but hog prices the same, reflecting better pork demand. Pork in Cold Storage and sow slaughter showing almost no year over year difference, while 40 lb. feeder pigs are 10% higher year over year.
Of note – last year feeder pigs went from the $40’s to $70’s by mid-December. We expect a similar scenario this year.
Below is U.S. Direct Feeder Pig Chart
| Get acquainted with the |
Global Mega Produce
A program of recognition led by National Hog Farmer sponsored by Genesus Inc.
Muyuan Group is recognized as a Global Mega Producer for 2019.
Muyuan Group was established in 1992, its main business is hog farming (accounting for over 99% of its total revenue) which has been developed in coordination with other businesses including feed processing, swine genetics, hog slaughtering. Currently the total asset of Muyuan Group is 55.3 billion yuan with more than 40,000 employees and more than 150 subcompanies. The hog farming business covers 93 counties in 14 provinces all across China.
The subsidiary company – Muyuan Foodstuff Co., Ltd was listed in the stock market in January 2014, its current market value is over 150 billion yuan. In 2018, the company marketed over 11million hogs.
Facing with the severe situation caused by ASF, Muyuan Group has been dealing with it in a positive way and continuously groping for good experience and practice for prevention and control of ASF, which has resulted in a fast recovery and even further expansion in the number of sows in their production system. It is estimated that by the end of 2019, their sow inventory will reach 900,000 head.
Let’s congratulate on the great achievement and all recognize Muyuan Group as an industry leader and 2019 Global Mega Producer..