According to Kerns and Associates economist Steve Meyer, U.S. hog producers are holding on to about 1.1 million animals that should already be slaughtered by now. “We think this number will be up to about 1.6 million by the end of August, it won’t grow much in September, but would grow again in October and November based on the USDA’s inventory of pigs on June 1 and the available slaughter capacity we’ll have between now and the end of the year.” Meyer said that means farmers will either hold pigs for a longer period of time or they’ll have to destroy some pigs. some space.” Pork values lost $4.7 billion from March 1 to July 10. “Nothing compares to this and it comes off a two year period where we thought we would make money, but because of the trade disruptions, it was more of a break even.” Meyer was part of a National Pork Producers Council webinar.
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