Pork consumption continues to disappoint

Apr 24, 2023

Despite some reprieve in feed costs, pork producers are currently losing $28 per head on open market hogs. Based on anticipated producer response to weaker returns and the farrowing intentions detailed in the latest USDA Hogs and Pigs report, RaboResearch analysts expect tighter hog supplies beginning late fourth quarter, into early 2024.

According to Rabobank's April North American Agribusiness Review, prices have dropped 20% from 2022 levels, with average weekly slaughter running above 2.4 million through March and year-to-date slaughter up 1.4% year-over-year.

"As the industry moves through the near-term bulge in heavy weight hog supplies indicated in the latest Hogs and Pigs report, we expect Q2 2023 slaughter levels to drop below year-ago, and prices to firm."

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Video: What If Everything You Knew About Feed Inventory Was Wrong?

AI, Agriculture & the Future of Smart Farming with BinSentry CEO Ben Allen. Every day, livestock producers make thousands of dollars' worth of decisions based on one simple question: How much feed is actually left in the bin? For decades, the answer has often been an estimate.

In this episode of AgTech with Andrew, I sit down with Ben Allen, CEO of BinSentry, to explore how artificial intelligence, machine vision and real-time data are transforming one of agriculture's most overlooked challenges—feed and grain inventory management.
We discuss why some of the biggest inefficiencies in livestock production aren't happening in the barn, but throughout the feed supply chain. Ben shares insights from his career leading agricultural technology companies, explains why AI must solve real business problems to earn producer trust, and offers his vision for the connected farm of the future.

In this interview, you'll discover:
Why feed inventory has remained one of agriculture's biggest blind spots
How AI is reducing costly feed outages, waste and unnecessary deliveries
The hidden safety risks of traditional bin inspections
What separates successful ag technologies from those that never gain adoption
How connected farms are changing decision-making for producers, feed mills and integrators
Why real-time inventory may become as important as precision planting and autonomous equipment

Whether you're a livestock producer, grain farmer, feed manufacturer, ag retailer, nutritionist or simply passionate about the future of agriculture, this conversation offers valuable insights into where the industry is headed.