Morning Ag Markets – Pete Loewen – 09/21/2018
Big week for the meat complex from the standpoint of an overdose of news flow. Hurricane Florence and the flooding aftermath crippled the pork and poultry industry along the East Coast. Poultry loss numbers are all over the board, but I think it’s safe to say the losses were somewhere between 2-4 mln chickens and turkeys. Hog losses were minimal, but slaughter and processing plants that were shut down ahead of the storm still aren’t full online yet. The hog kills two weeks ago were down sharply from normal levels. Last week’s kill looked to me like maybe 1/3 to ½ the capacity that was lost was back up. We’ll find out from today’s slaughter total if there’s anything else online yet. African Swine Fever…