Porcine Epidemic Diarrhea virus (PEDv) will continue to be a big player in impacting pork production throughout 2014, according to the USDA’s latest World Agricultural Supply and Demand Estimates (WASDE) report.
The report, released on Wednesday, showed a drop in 2014 production from last month.
“Although producers indicated intentions to increase sows farrowing in March-May and June-August 2014, the loss of piglets due to [PEDv] is expected to result in lower slaughter during the remainder of the year. Although carcass weights are forecast higher, those gains will be insufficient to offset the reduced slaughter numbers and the pork production forecast is reduced from last month,” the report said.
The Quarterly Hogs and Pigs report estimated a year-over decline in the December-February 2014 pig crop and revised the June-August 2013 pig crop lower.
Pork imports are raised on high pork prices but the export forecast reduced as tighter supplies and high prices are expected to constrain sales.
The hog price forecast has been raised on current prices and expected tight supplies of market hogs.
Overall, the 2014 forecast of total red meat and poultry production has been lowered from the March report as high beef production was more than offset by lower pork, broiler and turkey production.
The WASDE report also showed a look at grains:
- Corn and coarse grains: U.S. feed grain ending stocks for 2013-2014 projected lower with reductions for corn, barley and oats. The season-average farm price for corn is raised to $4.40 to $4.80 per bushel, compared with $4.25 to $4.75 per bushel reported last month. The farm price for sorghum was raised to $4.15 to $4.55 per bushel, and both barley and oats price ranges narrowed to $6.00 to $6.20 per bushel.
- Soybeans and oil seeds: U.S. soybean supplies for 2013-2014 projected higher at 3.49 billion bushels, up 30 million on increased imports. Priced prices for soybeans and soybean products raised. The projected range for the season-average soybean price raised to $12.50 to $13.50 per bushel. Both soybean oil and soybean meal prices were also projected higher.
- Wheat: U.S. wheat ending stocks for 2013-2014 projected 25 million bushels higher with lower imports more than offset by a reduction in feed and residual use. Project season-average farm price for all wheat unchanged at $6.75 to $6.95 per bushel.