Macro & analysis
Relationships between indicators that span several themes, and the wider macro indicators that bear on the market.
Profitability indicators
US cutout–hog price spread
Feed pricesFor an explanation of these indicators, see Insight (Japanese): Feed costs in US hog production
US feed prices — daily
Iowa cash prices (prices bid by country elevators, state average). Moves in the Chicago market are reflected the same day. The thin line shows the same weekday a year earlier.
Source: USDA AMS (Iowa Daily Cash Grain Bids; simple average of elevator bids in six regions of the state)
US feed prices — weekly and monthly
Source: USDA AMS (Iowa Daily Cash Grain Bids, weekly average) / USDA NASS Quick Stats (monthly price received). This product uses the NASS API but is not endorsed or certified by NASS.
US corn stocks-to-use ratio and season-average price
The marketing year runs from September to August (2024/25 = September 2024 to August 2025). Stocks-to-use ratio = ending stocks ÷ (domestic use + exports). The price is the marketing-year average price received by farmers (USD/bu; completed marketing years only).
US corn use by category and ending stocks
Use in each marketing year (September–August), stacked by category (million t). "Ethanol and other industrial" is USDA's FSI category (food, seed and industrial use), most of which goes to fuel ethanol.
US corn supply and demand (index)
Each item is indexed to its average over the period shown (= 100) and overlaid. Left: supply (production = harvested area × yield). Right: the three demand categories. Both panels share the same vertical scale, so the vertical spread of each line shows the size of its year-to-year changes.
US corn exports by destination
Export volume in each marketing year (September–August), stacked by destination (million t). The six largest destinations over the years shown are coloured; the rest are grouped as "Others".
Macro indicators
Pork supply chain price indexes (monthly)
Producer price indexes (PPI) for slaughter hogs (farm to packer), meat processing and pork products. A benchmark for medium- to long-term price pass-through: how far upstream price increases carry through to the processing and product stages.
US PPI (unit: Index)
Source: US Bureau of Labor Statistics (BLS) Public Data API. BLS.gov cannot vouch for the data or analyses derived from these data after the data have been retrieved from BLS.gov.