Big shock in the US swine industry
Tough market condition in the US made one of the largest pig breeders in the country to liquidate its swine operation starting this month. Goldsboro Milling – Maxwell Foods decided to exit the industry and liquidates 54,000 sows in what analysts called a shock for the industry. "A year ago, at this time Maxwell Foods was a Global Mega Producer with 100,000 sows. Last August 19 Maxwell sold about 46,000 sows and production contracts to Country View Farms who are part of the Clemons Food Group. Maxwell has announced that it will begin phasing out current production of about 54,000 sows beginning August 6th. This is unprecedented in our industry. We understand most if not all breeding of sows has stopped. There has never been a liquidation plan of this magnitude by one entity in the U.S. swine industry history. It appears that there were no buyers for the business. In the past when large producers such as Maxwell had an exiting plan another large producer took them over. IE Smithfield Foods – Murphy, Carrol, Premium Standard. Maschoff – Sands, Christiansen – Heartland, JBS – Cargill and so on," commented Jim Long, CEO and President of Genesus INC. Currently, pig producers in the US are facing losses of $30 per head, while the profit stops in retail and packing plants. At this time, pig production in the US is declining, with 150,000 fewer breeding sows reported between December 2019 and June 2020. Euthanization, sow herd abortions and lower gilt retention are all factors in decreasing the pig production. June 1 USDA report projected 5% less farrowing in this time frame. That is about 150,000 fewer pigs weekly.
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