USDA National Agricultural Statistics Service (NASS) recently released the June 1 Hogs & Pigs report. All hogs and pigs totaled 79.6 million head which is a 5.2% (3.9 million head) increase from 2019. Total market hogs increased 5.8% to 73.3 million head while hogs kept for breeding declined 1.3% to just over 6.3 million head.

Last week the dried distiller’s grain market averaged $136 per ton across the 10 markets that the LMIC tracks. In many of those markets, prices are close to a year ago, even though corn prices are significantly below 2019’s, and soybean meal prices also are down. In animal rations, DG provides both energy and protein.

well as individual countries. Assessing the damage of COVID-19 is a moving target, Gross Domestic Product (GDP) estimates were lowered from those given in the April outlook estimate. This year, the World economy is currently expected to contract 4.9 % from 2019, compared to the IMF April forecast of -3%. GDP in the U.S. is forecast to shrink over 8% from 2019’s (the prior estimate was -5.9%).