Would you believe a $6 to $7 corn price prediction? Bill Kirk, a weather statistician and owner of Weather Trends 360, asserts that corn prices could hit the $6.50 to $7 range this summer. According to his weather outlook, 2016 will mean lower yields both in the U.S. and in Brazil, reversing the current supply and demand debacle.
The USDA’s Jan. 22 Cold Storage report stated ending December, U.S. pork stocks at 545.6 million pounds. That total fell far below the record highs seen during the year. The pork industry traditionally builds ham stocks for the holiday season, with ham and pork totals usually reaching annual highs during autumn.
This week, Seaboard Foods announced an agreement to buy a portion of Christensen Farms hog operations, a feed mill and truck washes for approximately $71.1 million. Seaboard is also entering an agreement with Woodford Creek Farms to raise hogs in Iowa for Seaboard. These acquisitions by Seaboard are part of their effort to increase their hog herd in advance of the opening of the Seaboard Triumph Foods slaughter plant in Sioux City, Iowa.