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USDA 2025/26 U.S. Supply/Demand Estimates 'Net Neutral' for U.S. Farmers & Ag OEMs

USDA introduced its U.S. supply and demand estimates for 2025/26 crops on Feb. 27 during its annual Outlook Forum in Virginia. 

Based on these initial estimates, J.P. Morgan's model suggests U.S. major crop cash receipts will total $119.7 billion in 2024/25, which is "flattish" year-over-year, said Tami Zakaria in a note to investors.

Overall, the report shows increases in ending stocks of U.S. wheat and corn and decreases in U.S. soybeans, which Zakaria says "is net neutral for U.S. farmers and for agriculture OEMs. Moreover, stocks-to-use (STU) ratios are seen expanding further for wheat/corn and compressing for soybeans in the U.S."

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CEOs of the Industry: John McIntire, Partner at Pike Pig Systems

Video: CEOs of the Industry: John McIntire, Partner at Pike Pig Systems

CEOs of the Industry, Jim sits down with John McIntire, Partner at Pike Pig Systems, one of the most quietly impressive 26,000-sow operations in the U.S. John shares how he grew from operator to partner, how Pike built a people-first culture with long-tenured managers, and why they’re committed to weaning bigger, stronger pigs at 25+ days.

John breaks down how Pike stays efficient in a tough economic environment, the power of their shareholder-owned farm model, and how their work with PIC and a 240-head boar facility drives genetics and health outcomes. He also opens up about the innovations Pike adopts — and how they decide what’s truly valuable versus industry hype.

From Prop 12 and labor challenges to trade, consumer expectations, and sustainability, John chooses a hot-button issue and shares how Pike is preparing for the future. The episode closes with a rapid-fire “Fast Five” — mindset, leadership, daily habits, and three words that define Pike Pig Systems in 2025.

If you want a look inside a people-driven, purpose-driven, quietly elite pork system, this is an episode you won’t want to miss.