Pig outlook: ??Lean hog futures hit 5.5 month high driven by technical bulls

Oct 21, 2024

December lean hog futures this week pushed to a 5.5-month high as the bulls remain in firm technical command. This comes despite the CME cash hog index posting a new seasonal low. The latest CME lean hog index is down 23 cents to $83.85 as of Oct. 15. Hog traders this the fall and early winter pig crop and pork production is not going to be as large as originally expected. That has led traders to tightening up December futures to the cash index, implying that the seasonal weakness this year will not be as severe as seen in the cash market the past two years.

Latest USDA and other news regarding the global pork industry

U.S. Labor Dept. probes underage worker claims at Tyson plants in Arkansas

The U.S. Department of Labor is conducting an ongoing investigation into claims of underage workers at two Tyson Foods plants in Arkansas. This comes after court documents unsealed in the Western District of Arkansas revealed accusations of child labor violations at Tyson processing facilities.

Specific allegations. A teacher at a school near the Rogers, Arkansas plant reported that a 14-year-old student discussed working at the Tyson facility for the summer. For the Green Forest, Arkansas plant, a mother overheard children between 11-13 years old discussing working night shifts from 11 PM to 7-8 AM. Investigators observed "multiple individuals whose appearance and body language indicated were potentially minor employees below the age of 16" at both locations.

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Video: Five Confirmed New World Screwworm Cases Raise Alarm for Livestock and Pet Owners

Pat Hoffmann, Swine Technical Consultant at Elanco Animal Health tells us about the impact of New World Screwworm. The emergence of New World screwworm in the U.S. creates a threat for veterinarians, livestock producers and pet owners that has not been seen north of the Florida Keys since the fly was eradicated from the United States more than 50 years ago. New World screwworm (Cochliomyia hominivorax) larvae feed on living tissue and can affect a wide range of warm-blooded animals, including livestock, companion animals, wildlife, and even humans.
“New World screwworm could have a devastating impact on animal health, welfare, and producer livelihoods,” said Jeff Simmons, President and CEO, Elanco Animal Health. “We want to thank the FDA, EPA and USDA, for all their work to prepare for this threat. We’re committed to supporting our customers during this challenging time by delivering innovation, scientific expertise, and available resources to help treat New World screwworm and support the health and well-being of animals.”
Elanco is working alongside the U.S. animal health industry to help them fight against this parasite, offering a portfolio of options for pets and livestock that can help treat New World screwworm larvae infestations.