The report is somewhat bullish, says Lee Schulz, Iowa State University Extension livestock marketing economist.
“The caveat with all these numbers is the current situation we are in,” he says. “The pre-report estimates represented a pretty wide range.”
A July 7, 2020 Agrinews story, "U.S. pork producers face more pain."
One bright spot for the industry has been exports and that continues to be the case, in spite of the global pandemic.
“When we talk about demand, exports are tremendously important. We’ve seen, for the first part of the year, rather strong demand for pork exports,” said Lee Schulz, associate professor at Iowa State University.
Schulz said the futures market also is anticipating better times.
“There are some bits of optimism when we talk about a demand-driven recovery, and I think the futures prices are somewhat reflecting that, especially when you look into the deferred contract,” Schulz said.