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Iowa farrow-to-finish operations earned an estimated $8.75 per hog in December, the first profitable December since 2014. Cost of production fell to $81.51/cwt, the lowest since December 2021, mainly because corn prices were lower.
USDA expects the 2024/25 average corn farm price at $4.25/bu.
Lower feed costs are improving hog margins, which should support herd expansion and larger slaughter later in 2025. Futures pricing for corn in 2025 is higher than the current marketing year, which could weigh on margins later.
nationalhogfarmer.comRon PlainJan 27, 2025Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
