-April 21,2019-
Wall St Journal:
Snout Rout: Chinese Pig Population Sinks and Pork Prices Climb
The world’s top pork consumer is importing more as deadly hog virus forces farmers to cull herds, delay expansion
Pork prices in China could surge more than 70% this year, an official warned, after new government data showed the pig population plunging as farmers culled millions of hogs to battle a virus deadly to their herds.
The pig count as of March 31 was 375.3 million, down nearly 40 million from a year earlier, China’s National Bureau of Statistics said Wednesday, and the lowest in more than two decades. The drop is partly the effect of farmers’ selling down existing pig stocks and holding back from expanding herds.
Egg Prices down
American Farm Bureau Federation says US eggs prices are down in 2019.“At 79 cents per dozen, retail egg prices showed a moderate price decline two weeks prior to Easter, rather than the normal seasonal bump,” explained AFBF Economist Michael Nepveux. In March, wholesale large egg prices averaged 93 cents per dozen, a 56 percent decline compared to a year ago.
Ethanol boosted by high octane demand
Pacific Ethanol, based in Sacramento, says one bright spot for ethanol production is an increase in demand for an high octane supply with premium fuel use.They say auto companies are calling for higher octane fuels to power next generation of increasingly efficient engines. This should require higher blends of ethanol necessary to meet future octane as well as carbon reduction needs and opens export opportunities. Still ethanol prices remain depressed in part due to the trade war.
Cotton plantings to climb?
USDA expects California cotton growers to plant more cotton in 2019 with adequate water supply – up 7%. National Cotton Council expects even more – up 9.7%.
North American rail shipments down
Year to date rail traffic across North America is down 1.2% according to a rail industry association. Shipments of coal are down nearly 6% while petroleum products are up 18.5%. Year to date Union Pacific carloads are down 5% with the biggest drop in coke shipments ,down 32%.