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ANALYSIS: Year-Over-Year Highs for Sow Slaughter
According to the June Hogs and Pigs report, intended farrowings for September-November are down 5% from a year ago, implying...
Smithfield Foods' Adjusted Operating Results Swing to Loss in Second Quarter Amid COVID-19 Pandemic
Smithfield Foods, Inc. announced that it has spent $350 million to protect its team members and the American food supply during the COVID-19 pandemic, causing adjusted operating results to swing to a loss in the second quarter of 2020.
At Smithfield, the first half of 2020 was "a tale of two tapes": pre-pandemic and pandemic. Prior to the onset of COVID-19 in the U.S., Smithfield delivered record results in the first quarter of 2020, which were 190 percent higher than 2019. However, the impact of the pandemic weighed heavily on the company's second quarter, pushing adjusted operating results 140 percent below...
Rabobank Pork Quarterly Q3: More Uncertainties Ahead
Covid-19 brings many uncertainties to the global pork market. With various disruptions to the supply chain, Rabobank has revised down pork production for 2020 in major producing countries.
“Labor shortages, operational suspensions, soft demand, and channel shifting will force industry players to increase automation, adopt digitalization, improve plant working conditions, streamline processing, and integrate along the supply chain in order to...
COVID-19 Overshadows African Swine Fever, but ASF’s Influence Prevails
African swine fever remains the dominant issue in global animal protein – as it has been since 2018. But COVID-19 further distorts the outlook, constraining production, consumption, and trade.
ASF is still the major influence on global pork markets, and it continues to impact pig herds and restrict pork production in China, Vietnam, the Philippines, and parts of eastern Europe. As Rabobank does not anticipate an effective vaccine against ASF to be commercially available in 2020, biosecurity measures remain the most effective defense.
Herd recovery is underway in China, and has been proceeding faster than expected, but a further significant drop in...
NPPC Urges SBA to Ensure Ag Businesses Can Access Disaster Loan Program
The National Pork Producers Council (NPPC) joined 30 agriculture organizations yesterday in urging the U.S. Small Business Administration (SBA) to ensure agricultural business can participate in the economic disaster loan program included in the CARES Act.
Earlier this week, SBA posted information on its Economic Injury Disaster Loan (EIDL) program website stating applicants do not qualify for loans if they are an agricultural enterprise (e.g. farm). However, the CARES Act, signed into law last month, does not specifically exclude agriculture from this program. Congress intended for all business fewer than...
NPPC Seeks Labor Solutions for Potential COVID-19 Impact on Pork Supply Chain
The fallout from an ongoing labor shortage facing the U.S. pork industry and other agriculture sectors could significantly worsen due to the impact of COVID-19, the National Pork Producers Council said in a letter to U.S. government officials. NPPC’s concerns regarding COVID-19 are labor specific. There is no evidence that pigs can contract the virus.
In a letter to the president and other administration officials, members of Congress, and state governors, NPPC called for expedited solutions addressing the need for more workers on hog farms and in pork plants. It also called on federal, state and local governments to work together to develop a response to COVID-19 that protects public health and...
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