December 31, 2008


US hog producers incur heavy losses on high feed prices


US hog producers lost about US$39 per head this month due to steep increases in corn and soy prices earlier in the year, said Iowa State economist, John Lawrence.


Lawrence said corn and soy prices dropped sharply this fall and hog farms reduced production.


He said there is still a lot of uncertainty about foreign demand for US pork because of the global economic slowdown.


He estimates that things would be back to normal in mid-2009.


The USDA reported on Tuesday (Dec 30) that farms had 66.7 million hogs on December 1, 2008, which is 2-percent lesser than last year.

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