The US farmers were pessimistic for the fall harvest after turbulent weather this season but they got good news in the form of an increase in the corn and soybean prices and record-breaking hogs report. The US Department of Agriculture released a report which revealed that the hogs and pigs inventory on the US farms increased 3.5% this year as compared to the previous year.
The USDA has been counting the hogs and pigs across the nation since 1988. According to the report, the number of hogs and pigs on the US farms reached 77.7 million head. The report revealed that there were 71.2 million market hogs on the US farms as of Sep. 1. These are the highest numbers so far on the datasheet of the USDA.
Ron Plain, professor of the University of Missouri, said, “We are looking at a record market hog inventory, which is going to give us record slaughter.” He added that they had already experienced some of that. Plain added, “We are going to have plenty of hogs and pork this fall and into winter.” FarmWeekNow.com also released a report that revealed that the one week of the last month was the second-highest weekly production on record.
The producers are confident to get huge profits in the upcoming days. The US farmers were prompted to hold on to corn and soybeans due to the trade war of the US against China. The USDA will release a crop production report next week. The prices are expected to come down due to the increase in supply, according to the experts. Hog farmers have got a new opportunity after the outbreak of China’s Asian swine fever.
Illinois farmers welcomed the warm September but the harvest of soybeans and corn in Illinois lagged behind the national harvest average. The Crop Progress report of the USDA this week revealed that 11 percent of corn had been harvested nationally. In Illinois, only 4 percent of corn has been harvested, according to the report. Similarly, only 1% of soybeans had been harvested in Illinois as compared to the 7% of soybeans had been harvested nationally so far.