Swine news - Economy

The study by Drs. Jayson L. Lusk and Glynn T. Tonsor of the University of Kansas, which was funded by Pork Checkoff, concluded that the main causes of higher U.S. retail pork prices starting in 2020 were the macroeconomic environment and increased production costs.

The amount of pork produced in the first half of 2022 was 2.3 million tons, down 10.1% compared to the same period in 2021.

According to Rabobank's third-quarter global pork report, African swine fever, inflation, and policies challenge growth while trade prospects rise.

The inventory of pork in cold storage at the end of June 2022 remained well above year-ago levels, but available supply differs greatly among products.

The price of pork was 20% higher in July compared to year-ago levels.

The Ukrainian Minister of Infrastructure has announced the resumption of grain exports by sea, which were blocked due to the war.

Russia exported 81,600 tons of pork in the first half of the year, down 23% from a year earlier.

Hog slaughter and pig inventory continue to grow in China.

The country's pig inventory has increased from last year and industrial feed output is also higher.

The OECD-FAO Agricultural Outlook 2022-2031 outlines market developments and medium-term projections for world meat markets.

EU oilseed planting areas have increased while cereal production is lower than expected.

While May pork exports were well below last year’s large totals, shipments were the largest of 2022 in both volume and value.

Environmental-related measures, reduced export prospects, high input costs, and ASF are leading to an expected fall in EU pigmeat production in 2022.

Soybean imports for marketing year 21/22 are revised downward while soybean production for MY 22/23 is forecast higher.

As of October 1, it will no longer be possible to sell vegetable products under the denomination of meat products.

In June, world cereal prices decreased month-on-month but were still 27% above year-ago levels.

Data provided by the statistical service of the Netherlands shows that Spain continues to increase its imports of pigs and piglets.

Pig meat prices recovered slightly on higher imports by several leading importers, amid continued low purchases by China.

Pork production in Russia increased 7% during the first five months of this year.

In May 2022, the number of pigs fell to 6.1 million head (-3.4%) in North Rhine-Westphalia.

The Federal Ministry of Food and Agriculture (BMEL) has presented the details of the exceptional aid of 180 million euros to German farmers in the sectors most affected by the war in Ukraine.

The retail cost of pork in Russia in 2022 will grow at a rate many times lower than inflation due to an increase in the production of this product and stabilization of the cost structure.

The Institute of Agricultural Market Studies raised the base forecast for wheat harvest in Russia this year by 2 million tons, to 87 million tons.

The agreement eliminates import duties on all EU agri-food export to New Zealand.