Iowa Farm Outlook & News

Headlines
  • Mar. 2019 Hogs and Pigs:
       U.S.: All Hogs and Pigs: 74.296 million head, up 2.1% from last year
       U.S.: Breeding Herd: 6.349 million head, up 2.2% from last year
       U.S.: Market Hogs: 67.948 million head, up 2.1% from last year
  • Mar. 2019 Hogs and Pigs:
       Iowa: All Hogs and Pigs: 23.5 million head, up 4.0% from last year
       Iowa: Breeding Herd: 1.039 million head, up 1.9% from last year
       Iowa: Market Hogs: 22.47 million head, up 4.1% from last year
  • Mar. 2019 Yields for 2018/19 U.S. Crops:
       Corn 176.4 bushels per acre, down 2.5 bushels from the Nov. 2018 estimate
       Soybean 51.6 bushels per acre, down 0.5 bushels from the Nov. 2018 estimate
  • Apr. 2019 Stocks for 2018/19 U.S. Crops:
       Corn 2.035 billion bushels, up 200 million bushels from last month
       Soybean 895 million bushels, down 5 million bushels from last month
Livestock
Hogs and PigsCattle (4/1/19)

The latest USDA Hogs and Pigs report indicated market hog inventories are larger and supply growth is likely to continue into at least next year, if not longer. The inventory of pigs weighing 180 pounds and over was up 1.6% compared to a year ago and pigs weighing 120 to 179 pounds was up 1.8%. These hogs are expected to reach slaughter during March to mid-April and mid-April to mid-May, respectively. Pigs weighing 50 to 119 pounds were up 2.3% and are expected to reach market weight mid-May through June while pigs weighing less than 50 pounds were up 2.5% and should be marketed July through mid-August. The hog breeding herd on March 1 was estimated at 6.349 million head, the largest inventory since 1999 with producers reporting that they intend to farrow more sows than a year ago in the next quarter. March-May farrowing intentions were up 0.6% from 2018. The June-August farrowing intentions showed a decrease of 0.3% from last year. However, if a 1% increase in pigs saved per litter is realized, which has been the general trend recently, pig crops could be larger than one year ago contributing to larger October-December 2019 and January-March 2020 slaughter.

Crops
April WASDE (4/9/19)

Today's report came in close to expectations. Hence, the market reaction was more of a sigh of relief. Corn usage estimates were lowered significantly (down 75 million bushels for livestock feed and exports, down 50 million bushels for ethanol), but that just confirmed earlier data. Soybean numbers were basically left steady (small adjustments to seed and imports, lowering stocks by 5 million bushels). Market attention will now turn to planting progress (or lack thereof) for corn and any news on a China trade deal for soybeans.

Newsletter