Margin Watch: April

May 2, 2013

Hog Margins improved since the middle of April, particularly in nearby periods following a sharp rally in hogs that more than offset a similar increase in feed costs. While margins remain only slightly above average from a historical perspective, the recent strength in hog finis...

Margin Watch: Mid-April

April 17, 2013

Hog With the exception of the spot Q2 period, hog finishing margins deteriorated since the end of March as feed costs have started to stabilize following USDA’s quarterly stocks and Prospective Plantings reports while hog prices continued to erode. Following the latest quarter...

Margin Watch: March

April 1, 2013

Hog Margins improved significantly since the middle of March due mostly to a sharp drop in feed prices. USDA released their quarterly stocks and Prospective Plantings reports on Thursday, and the corn stocks figure in particular was considered quite bearish. USDA pegged March 1...

Margin Watch: Mid-March

March 18, 2013

Hog Margins deteriorated further through the first half of March, following continued weakness in hogs and strength in corn. The recent USDA WASDE report left corn ending stocks unchanged from February, although the balance sheet reflected a 100 million bushel increase in the pr...

Margin Watch: February

March 1, 2013

Hog Margins continued to erode during the second half of February, due primarily to an ongoing decline in hog prices although old-crop feed prices moved higher as well – particularly for soybean meal. Deep losses continue to be reflected in spot Q1 for anyone who is open to th...

Margin Watch: Mid-February

February 19, 2013

Hog Margins deteriorated since the end of January, as hog prices have declined more than feed costs over the past 2 weeks. The markets generally have taken on a weaker tone recently with prices in retreat. USDA’s latest February WASDE report raised ending stocks for corn and ...