US  HAY  STOCKS  LARGER  THAN  ANTICIPATED

US May 1 hay stocks were over 6 thousand tons more than expected, coming in only 3.8% below a year ago. Nationwide, hay use this past winter was reduced compared to last year’s by both weather conditions (mild in much of the northern US and improved grazing in the Southern Plains) and record high prices. Many producers chose lower cost options like feeding baled corn stalks. US hay disappearance between the December 1 and May 1 USDA-NASS stocks reports was the lowest since 1980.

HAY  EXPORT  VALUE  &  TONNAGE

The March export data was released by USDA- FAS closing the first quarter of the year. The LMIC tracks hay exports of alfalfa and other hay for 5 countries: China, Japan, South Korea, Taiwan, and United Arab Emirates. These 5 countries usually buy more than 95% of US exports of both alfalfa and other hay.

HOG  RETURNS  UPDATE

According to the estimated farrow-to-finish hog returns provided by provided by Iowa State University, producers turned a rather small profit in the first quarter of 2012. Last year, strong slaughter hog prices resulted in positive producer returns. However, this year slaughter hog prices are struggling to offset high feedstuff costs. Further weakness in slaughter hog prices will impact producer returns this summer as feed costs are not expected to moderate until the fall.