[Fri]: News of an African swine fever hog identified in Germany adds a new layer to the demand side of both pork and beef, The Cattle Report said. This threatens the possibility of a shutdown of pork exports from the EU to Asia. The beneficiaries would be both U.S. pork and beef as buyers seek to replace European Union exports… [Thurs]: National Daily Hog and Pork Summary / National carcass base up $2.46… Iowa-Minnesota carcass base up $2.58… USDA reported carcass cutout values this afternoon rose 73 cents… The hog market shot up today on the news that African swine fever was found in a dead wild boar in Germany near the Polish border, according to The Hightower Report… South Korea and Japan have already announced they would cut off pork imports from Germany..

 

Farm Commodity Newsletter/Iowa Farmer Today

 

Fri 9/11/2020 9:16 AM

 

Lean hogs - Lean hog futures will have expanded limits of $4.50 per cwt today, said Michaela White of CHS Hedging.

“We had a limit up-trade in the hog market,” said Joe Vaclavik of Standard Grain.

 

Swine fever found in Germany

 

News of an African swine fever hog identified in Germany adds a new layer to the demand side of both pork and beef, The Cattle Report said. This threatens the possibility of a shutdown of pork exports from the EU to Asia. The beneficiaries would be both U.S. pork and beef as buyers seek to replace European Union exports.

 

Thu 9/10/2020 4:33 PM

 

In weighted average negotiated prices for barrows and gilts, USDA reported:

 

National carcass base up $2.46 to $51.33/cwt.

National live was up $1.57 to $38.49

Iowa-Minnesota carcass base up $2.58 to $52.91

 

USDA reported carcass cutout values this afternoon rose 73 cents to $80.86/cwt.

 

Hog futures in the October contract traded sharply higher Thursday afternoon and a contract high could be in the cards, according to Seery Futures.

 

South Korea and Japan have already announced they would cut off pork imports from Germany, according to The Hightower Report.

 

Hog market shoots higher

 

The hog market shot up today on the news that African swine fever was found in a dead wild boar in Germany near the Polish border, according to The Hightower Report.

 

The obvious concern is that the disease would spread into Germany’s pork production facilities and the thought in the market is that this will add to demand for U.S. pork, according to Karl Setzer of Agrivisor.

 

Grain markets hold for USDA report

 

The grain markets were mixed as traders waited for Friday’s USDA crop production and supply and demand reports, according to The Hightower Report.

 

The Brazilian firm CONAB came out with production numbers and it pegged the past year’s soybean crop at a record 124.8 million metric tons, up from the 120.9 mmt in its August estimate, according to Karl Setzer of Agrivisor.

 

Corn

 

Analysts in Argentina are not optimistic as their Brazilian neighbors about crop production this year, with estimates down from a year ago, according to Karl Setzer of Agrivisor.

 

Corn prices were moderately higher today as traders waited for Friday’s USDA reports, according to The Hightower Report.

 

Soybeans

 

November beans were down slightly on the session, breaking a streak of 12 consecutive days of the market closing higher, according to The Hightower Report.

 

There was talk of frost damage in the Dakotas and Minnesota and also discussion that the weather conditions may be similar to 2003, when USDA lowered the average yield by six bushels between August and January, according to Stewart-Peterson.

 

Wheat

 

December wheat closed higher but still off the highs amid talk of dry conditions in the Black Sea region, according to The Hightower Report.

 

European futures are at their highest levels since July and the U.S. dollar is lower, according to Stewart-Peterson.

 

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