Market News

Weaner Pig Breakeven at $81.05, Down $4.68 from Last Week

Mon, 30 Mar 2026 18:25:16 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on March 27 and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in September 2026 using October 2026 futures, the weaner breakeven was $81.05, up $4.68 for the week. Feed costs were down $0.80 per head, and October futures increased $1.85 compared to last week’s futures, while historical basis is unchanged from last week.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “Margin over variable costs,” which is $107.16.

(NutriQuest)

Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report

Cash-traded weaner pig volume was above average this week with 96,970 head being reported which is 137% of the 52-week average. Cash prices were $81.09, down $7.97 from a week ago. The low to high range was $62 to $100. Cash prices were 88.77% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were down $0.45 this week at $63.49.

Cash-traded feeder pig reported volume was above average with 30,815 head reported. Cash feeder pig reported prices were $126.67, down $0.69 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

(NutriQuest)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

(NutriQuest)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through March 27.

(NutriQuest)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential increased $12.65 this week to a projected loss of $0.04 per head.

(NutriQuest)

Jennifer Brown is Director of NutriQuest Business Solutions, a division of NutriQuest. NutriQuest Business Solutions is a team of leading business and financial experts that bring years of unparalleled experience in the livestock, row-crop and financial industries. At NutriQuest our success comes from helping producers realize improved profitability and sustainability through innovation driven by a relentless focus on helping producers succeed. For more information, please visit our website at www.nutriquest.com or email jenniferbrown@nutriquest.com.

Weaner Pig Breakeven at $76.37, Down $18.89 From Last Week

Mon, 23 Mar 2026 15:09:50 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn, and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on March 20 and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in September 2026 using October 2026 futures, the weaner breakeven was $76.37, down $18.89 for the week. Feed costs were up $0.12 per head, and October futures decreased $1.63 compared to last week’s futures, while historical basis is declined from last week by $7.31 per cwt.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $102.48.
Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report

Cash-traded weaner pig volume was below average this week with 44,625 head being reported which is 64% of the 52-week average. Cash prices were $89.06, down $0.61 from a week ago. The low to high range was $66 to $105. Cash prices were 97.61% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were down $14.69 this week at $63.94.

Cash-traded feeder pig reported volume was above average with 15,945 head reported. Cash feeder pig reported prices were $127.36, up $1.30 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

(NutriQuest)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

(NutriQuest)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through March 20.

(NutriQuest)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential decreased $18.28 this week to a projected loss of $12.69 per head.

(NutriQuest)

Weaner Pig Breakeven at $95.26, Down $5.03 From Last Week

Mon, 16 Mar 2026 14:34:28 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on March 13 and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in August 2026 using October 2026 futures, the weaner breakeven was $95.26, down $5.03 for the week. Feed costs were up $0.56 per head, and October futures decreased $2.13 compared to last week’s futures, while historical basis is unchanged from last week.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $121.37.

(NutriQuest)

Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report

Cash-traded weaner pig volume was above average this week with 88,851 head being reported which is 126% of the 52-week average. Cash prices were $89.67, down $11.72 from a week ago. The low to high range was $74 to $118. Cash prices were 96.30% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were up $4.26 this week at $78.63.

Cash-traded feeder pig reported volume was above average with 21,500 head reported. Cash feeder pig reported prices were $126.06, up $2.95 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

(NutriQuest)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

(NutriQuest
)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through March 13.

(NutriQuest
)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential increased $6.69 this week to a projected gain of $5.59 per head.

(NutriQuest)

Jennifer Brown is Director of NutriQuest Business Solutions, a division of NutriQuest. NutriQuest Business Solutions is a team of leading business and financial experts that bring years of unparalleled experience in the livestock, row-crop and financial industries. At NutriQuest our success comes from helping producers realize improved profitability and sustainability through innovation driven by a relentless focus on helping producers succeed. For more information, please visit our website at www.nutriquest.com or email jenniferbrown@nutriquest.com.

Weaner Pig Breakeven at $100.29, Down $9.02 From Last Week

Mon, 09 Mar 2026 15:38:28 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on March 6 and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in August 2026 using October 2026 futures, the weaner breakeven was $100.29, down $9.02 for the week. Feed costs were up $1.30 per head, and October futures decreased $16.40 compared to last week’s futures, while historical basis is improved from last week by $12.72 per cwt.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $126.40.

(Nutriquest)

Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report

Cash-traded weaner pig volume was above average this week with 97,800 head being reported which is 140% of the 52-week average. Cash prices were $101.39, down $1.04 from a week ago. The low to high range was $80 to $117. Cash prices were 99.04% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were down $2.49 this week at $74.37.

Cash-traded feeder pig reported volume was above average with 25,100 head reported. Cash feeder pig reported prices were $123.11, down $2.77 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

(Nutriquest)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

(Nutriquest
)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through March 6.

(Nutriquest
)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential decreased $7.98 this week to a projected loss of $1.10 per head.

(Nutriquest
)

Jennifer Brown is Director of NutriQuest Business Solutions, a division of NutriQuest.NutriQuest Business Solutions is a team of leading business and financial experts that bring years of unparalleled experience in the livestock, row-crop and financial industries. At NutriQuest our success comes from helping producers realize improved profitability and sustainability through innovation driven by a relentless focus on helping producers succeed. For more information, please visit our website at www.nutriquest.com or email jenniferbrown@nutriquest.com .

Weaner Pig Breakeven at $109.30, Up $2.64 From Last Week

Mon, 02 Mar 2026 16:41:40 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on Feb. 27 and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in August 2026 using August 2026 futures, the weaner breakeven was $109.30, up $2.64 for the week. Feed costs were up $1.09 per head, and August futures increased $1.78 compared to last week’s futures, while historical basis is unchanged from last week.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $135.41.

(NutriQuest)

Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report

Cash-traded weaner pig volume was above average this week with 85,350 head being reported which is 123% of the 52-week average. Cash prices were $102.43, down $6.99 from a week ago. The low to high range was $84 to $124. Cash prices were 93.38% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were up $1.77 this week at $76.86.

Cash-traded feeder pig reported volume was above average with 23,750 head reported. Cash feeder pig reported prices were $125.88, down $0.73 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

(NutriQuest
)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

(NutriQuest
)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through Feb. 27.

(NutriQuest
)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential increased $9.63 this week to a projected gain of $6.87 per head.

(NutriQuest
)

Weaner Pig Breakeven at $106.67, Up $10.66 From Last Week

Mon, 23 Feb 2026 16:52:38 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on Feb. 20 and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in August 2026 using August 2026 futures, the weaner breakeven was $106.67, up $10.66 for the week. Feed costs were up $0.53 per head, and August futures increased $3.53 compared to last week’s futures, while historical basis is improved from last week by $1.80 per cwt.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $132.78.

(NutriQuest)

Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report

Cash-traded weaner pig volume was above average this week with 85,835 head being reported which is 124% of the 52-week average. Cash prices were $109.42, down $0.72 from a week ago. The low to high range was $88 to $125. Cash prices were 102.23% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were up $5.42 this week at $75.09.

Cash-traded feeder pig reported volume was above average with 26,870 head reported. Cash feeder pig reported prices were $126.61, up $2.42 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

(NutriQuest)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

(NutriQuest
)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through Feb. 20.

(NutriQuest
)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential increased $11.38 this week to a projected loss of $2.75 per head.

(NutriQuest
)

Weaner Pig Breakeven at $96.00, Down $11.13 From Last Week

Tue, 17 Feb 2026 16:26:33 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn, and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on Feb. 13 and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in July 2026 using August 2026 futures, the weaner breakeven was $96.00, down $11.13 for the week. Feed costs were up $0.84 per head, and August futures decreased $4.90 compared to last week’s futures, while historical basis is unchanged from last week.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $122.11.

(Nutriquest)

Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report

Cash-traded weaner pig volume was below average this week with 44,860 head being reported which is 65% of the 52-week average. Cash prices were $110.14, up $2.14 from a week ago. The low to high range was $88 to $123.Cash prices were 102.24% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were down $6.81 this week at $69.67.

Cash-traded feeder pig reported volume was below average with 8,820 head reported. Cash feeder pig reported prices were $124.19, up $1.05 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

(Nutriquest)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

(Nutriquest)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through Feb. 13.

(Nutriquest
)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential decreased $13.27 this week to a projected loss of $14.14 per head.

(Nutriquest
)

Jennifer Brown is Director of NutriQuest Business Solutions, a division of NutriQuest.NutriQuest Business Solutions is a team of leading business and financial experts that bring years of unparalleled experience in the livestock, row-crop and financial industries. At NutriQuest our success comes from helping producers realize improved profitability and sustainability through innovation driven by a relentless focus on helping producers succeed. For more information, please visit our website at www.nutriquest.com or email jenniferbrown@nutriquest.com .

Weaner Pig Breakeven at $107.13, Up $3.56 From Last Week

Mon, 09 Feb 2026 19:14:03 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on Feb. 6 and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in July 2026 using August 2026 futures, the weaner breakeven was $107.13, up $3.56 for the week. Feed costs were up $0.85 per head, and August futures increased $2.10 compared to last week’s futures, while historical basis is unchanged from last week.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $133.24.

(NutriQuest)

Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report

Cash-traded weaner pig volume was below average this week with 53,354 head being reported which is 78% of the 52-week average. Cash prices were $108, up $0.36 from a week ago. The low to high range was $86 to $122. Cash prices were 98.97% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were up $2.36 this week at $76.48.

Cash-traded feeder pig reported volume was above average with 22,525 head reported. Cash feeder pig reported prices were $123.14, down $1.97 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

(NutriQuest)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

(NutriQuest)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through Feb. 6.

(NutriQuest)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential increased $3.20 this week to a projected loss of $0.87 per head.

(NutriQuest)

Jennifer Brown is Director of NutriQuest Business Solutions, a division of NutriQuest. NutriQuest Business Solutions is a team of leading business and financial experts that bring years of unparalleled experience in the livestock, row-crop and financial industries. At NutriQuest our success comes from helping producers realize improved profitability and sustainability through innovation driven by a relentless focus on helping producers succeed. For more information, please visit our website at www.nutriquest.com or email jenniferbrown@nutriquest.com.

Weaner Pig Breakeven at $103.58, Up $2.28 From Last Week

Mon, 02 Feb 2026 15:26:57 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn, and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on Jan. 30 and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in July 2026 using August 2026 futures, the weaner breakeven was $103.58, up $2.28 for the week. Feed costs were down $0.47 per head, and August futures decreased $1.10 compared to last week’s futures, while historical basis is improved from last week by $1.96 per cwt.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $129.69.

(NutriQuest)

Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report

Cash-traded weaner pig volume was below average this week with 36,018 head being reported which is 52% of the 52-week average. Cash prices were $107.64, up $7.61 from a week ago. The low to high range was $89 to $118. Cash prices were 99.09% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were up $5.44 this week at $74.12.

Cash-traded feeder pig reported volume was above average with 17,100 head reported. Cash feeder pig reported prices were $125.11, up $7.38 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

(NutriQuest)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

(NutriQuest)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through Jan. 30.

(NutriQuest)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential decreased $5.33 this week to a projected loss of $4.06 per head.

(NutriQuest)

Jennifer Brown is Director of NutriQuest Business Solutions, a division of NutriQuest. NutriQuest Business Solutions is a team of leading business and financial experts that bring years of unparalleled experience in the livestock, row-crop and financial industries. At NutriQuest our success comes from helping producers realize improved profitability and sustainability through innovation driven by a relentless focus on helping producers succeed. For more information, please visit our website at www.nutriquest.com or email jenniferbrown@nutriquest.com.

Weaner Pig Breakeven at $101.30, up $1.72 from Last Week

Mon, 26 Jan 2026 15:25:16 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn, and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on Jan. 23 and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in July 2026 using July 2026 futures, the weaner breakeven was $101.30, up $1.72 for the week. Feed costs were up $1.01 per head, and July futures increased $1.30 compared to last week’s futures, while historical basis is unchanged from last week.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $127.41.

(NutriQuest Business Solutions)

Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report

Cash-traded weaner pig volume was below average this week with 39,450 head being reported which is 57% of the 52-week average. Cash prices were $100.03, up $9.06 from a week ago. The low to high range was $84 to $111. Cash prices were 92.17% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were down $1.73 this week at $68.68.

Cash-traded feeder pig reported volume was below average with 5,030 head reported. Cash feeder pig reported prices were $117.73, up $9.44 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

(NutriQuest Business Solutions
)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

(NutriQuest Business Solutions
)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through Jan. 23.

(NutriQuest Business Solutions
)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential decreased $7.34 this week to a projected gain of $1.27 per head.

(NutriQuest Business Solutions
)

Weaner Pig Breakeven at $93.94, Up $2.79 from Last Week

Mon, 12 Jan 2026 18:45:28 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn, and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on Jan. 9 and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in June 2026 using July 2026 futures, the weaner breakeven was $93.94, up $2.79 for the week. Feed costs were up $1.15 per head, and July futures increased $1.88 compared to last week’s futures, while historical basis is unchanged from last week.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $120.05.

(NutriQuest)

Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report

Cash-traded weaner pig volume was above average this week with 71,400 head being reported which is 102% of the 52-week average. Cash prices were $83.33, up $6.13 from a week ago. The low to high range was $65 to $95. Cash prices were 79.62% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were down $1.64 this week at $68.02.

Cash-traded feeder pig reported volume was above average with 19,050 head reported. Cash feeder pig reported prices were $103.92, up $7.84 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

(NutriQuest)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

(NutriQuest)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through January 9, 2026.

NutriQuest

(NutriQuest
)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential decreased $3.34 this week to a projected gain of $10.61 per head.

(NutriQuest
)

Jennifer Brown is Director of NutriQuest Business Solutions, a division of NutriQuest. NutriQuest Business Solutions is a team of leading business and financial experts that bring years of unparalleled experience in the livestock, row-crop and financial industries. At NutriQuest our success comes from helping producers realize improved profitability and sustainability through innovation driven by a relentless focus on helping producers succeed. For more information, please visit our website at www.nutriquest.com or email jenniferbrown@nutriquest.com.

October Pork Exports Largest Since March; Encouraging Rebound for Beef

Fri, 09 Jan 2026 20:50:19 GMT

U.S. pork exports continued to build momentum in October, led by a record performance in leading market Mexico, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). While beef exports remained lower year-over-year, shipments rebounded to some degree in October, posting the largest totals since June.

Record-large shipments to Mexico fuel strong October pork exports

Pork exports totaled 264,657 metric tons (mt) in October, up 5% from a year ago, valued at $762.1 million (up 7%). Both volume and value were the largest since March, led by substantial growth in Mexico and year-over-year increases to Central America, Canada, Japan, South Korea and the Philippines. In addition to Mexico, October shipments were also record-large to Honduras and Guatemala.

January-October pork exports reached 2.43 million mt, just 2% below the record pace of 2024. Export value was also down 2% to $6.93 billion. The year-over-year difference is mostly due to a 20% decline in exports to China (which are mainly variety meats), where U.S. pork is subject to burdensome retaliatory duties.

Bright spots for October beef exports include Japan, Taiwan, Caribbean, Colombia

Beef exports totaled 93,448 mt in October, down 11% year-over-year but the largest since June and 16% above the low volume posted in September. Export value was also the highest since June at $759.5 million, down 12% from a year ago but 15% above September. October beef exports increased year-over-year to Japan, Taiwan, Canada, the ASEAN region and the Dominican Republic, while also jumping sharply to Colombia. But these gains were more than offset by lack of access to China, which has reduced exports to minimal volumes for the past several months. For markets other than China, October beef exports were up 5% year-over-year in volume and up 7% in value.

January-October beef exports totaled 949,471 mt, down 11% from the 2024 pace, while value was down 10% to $7.79 billion. When excluding China from these results, exports were down 3% in volume and just 1% in value compared to the first 10 months of 2024.

“The latest export data confirm what I consistently hear from customers across the world and from our international staff – that global demand for U.S. red meat remains robust, despite tight supplies and formidable market access barriers,” said USMEF President and CEO Dan Halstrom. “Obviously, regaining access for U.S. beef in China is our most urgent priority, as industry losses from this lockout are enormous. But we are also hopeful that ongoing trade negotiations will remove barriers in other destinations where consumers have a growing appetite for high-quality red meat.”

October lamb exports trend lower

Exports of U.S. lamb muscle cuts totaled 161 mt in October, down 12% year-over-year, while value fell 6% to $971,000. October shipments declined to the Caribbean but increased to Mexico and Central America. January-October exports were still up 40% year-over-year in volume (2,340 mt) and 27% higher in value ($12.65 million), led by growth in Mexico, Canada, the Bahamas, Trinidad and Tobago, Costa Rica and Panama.

A detailed summary of the January-October export results for U.S. pork, beef and lamb, including market-specific highlights, is available here .

2026 Off to a Good Start with Strong Global Protein Demand

Tue, 06 Jan 2026 21:10:55 GMT

Although final export numbers aren’t talled for 2025 yet, demand for U.S. pork remained strong despite headwinds, according to U.S. Meat Export Federation (USMEF) president and CEO Dan Halstrom. He points out much of that demand growth is coming from key free trade agreement partners.

“If you look at what’s been working well, you really have to start with some of these countries where we have existing free trade agreements,” Halstrom says. “There’s no better example than Latin America. Mexico is absolutely on fire for pork, setting records for the last three years, including this year.”

He says this growth is not limited to Mexico. Central America is another area that continues to grow, in addition to Asia and Korea.

“I think there’s a lot of good things going on in these markets, which, as we segueway into 2026, has a lot of opportunity going forward,” Halstrom adds.

In 2026 USMEF will lay the groundwork to expand markets fueled by programs like USDA’s America First Trade Promotion Program.

“Central America has been booming recently in the last four or five years, and we see further development potential on both beef and pork in that whole region,” he says.

As well, USMEF is excited about some newer regions around the world such as Malaysia in Southeast Asia. They are starting to make some progress on the variety meat side in West Africa and Central Africa, Halstrom says.

As USMEF looks forward to the new year, that strong protein demand is expected to remain, especially with an emerging middle class in many developing regions.

“We are positioned in the U.S. beef, pork and lamb industry to take advantage of that opportunity as we go forward in 2026,” Halstrom says.

Weaner Pig Breakeven at $91.14, Up $12.51 from Last Week

Mon, 05 Jan 2026 16:53:26 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn, and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on Jan. 2, and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in June 2026 using July 2026 futures, the weaner breakeven was $91.14, up $12.51 for the week. Feed costs were down $1.89 per head, and July futures increased $1.40 compared to last week’s futures, while historical basis is improved from last week by $3.66 per cwt.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $117.25.

Figure 1

(NutriQuest)

Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report

Cash-traded weaner pig volume was below average this week with 63,730 head being reported which is 91% of the 52-week average. Cash prices were $77.20, up $4.69 from a week ago. The low to high range was $62 to $86. Cash prices were 74.93% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were up $3.78 this week at $69.66.

Cash-traded feeder pig reported volume was below average with 13,200 head reported. Cash feeder pig reported prices were $96.08, up $3.01 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

Graph 1

(NutriQuest)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

Graph 2

(NutriQuest)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through Jan. 2.

Graph 3

(NutriQuest)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential increased $7.82 this week to a projected gain of $13.94 per head.

Graph 4

(NutriQuest)

Jennifer Brown is Director of NutriQuest Business Solutions, a division of NutriQuest. NutriQuest Business Solutions is a team of leading business and financial experts that bring years of unparalleled experience in the livestock, row-crop and financial industries. At NutriQuest our success comes from helping producers realize improved profitability and sustainability through innovation driven by a relentless focus on helping producers succeed. For more information, please visit our website at www.nutriquest.com or email jenniferbrown@nutriquest.com.

Weaner Pig Breakeven at $78.63, Up $0.30 from Last Week

Tue, 30 Dec 2025 14:55:59 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn, and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on Dec. 26 and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in June 2026 using June 2026 futures, the weaner breakeven was $78.63, up $0.30 for the week. Feed costs were up $1.01 per head, and June futures increased $0.63 compared to last week’s futures, while historical basis is unchanged from last week.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $104.74.

(NutriQuest)

Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report
Cash-traded weaner pig volume was above average this week with 87,732 head being reported which is 126% of the 52-week average. Cash prices were $72.51, up $2.33 from a week ago. The low to high range was $52 to $85. Cash prices were 71.08% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were down $1.68 this week at $65.88.

Cash-traded feeder pig reported volume was below average with 12,850 head reported. Cash feeder pig reported prices were $93.07, up $6.11 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

(NutriQuest)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

(NutriQuest)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through Dec. 26.

NutriQuest

(NutriQuest
)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential decreased $2.03 this week to a projected gain of $6.12 per head.

(NutriQuest )

Weaner Pig Breakeven at $78.33, Up $3.67 from Last Week

Mon, 22 Dec 2025 16:46:54 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on Dec. 19 and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in June 2026 using June 2026 futures, the weaner breakeven was $78.33, up $3.67 for the week. Feed costs were up $0.51 per head, and June futures increased $0.65 compared to last week’s futures, while historical basis is improved from last week by $1.34 per cwt.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $104.44.

(NutriQuest)

Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report

Cash-traded weaner pig volume was below average this week with 34,004 head being reported which is 50% of the 52-week average. Cash prices were $70.18, up $1.27 from a week ago. The low to high range was $54 to $76. Cash prices were 69.23% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were up $7.66 this week at $67.56.

Cash-traded feeder pig reported volume was below average with 9,900 head reported. Cash feeder pig reported prices were $86.96, up $1.77 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

(NutriQuest)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

(NutriQuest)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through Dec. 19.

(NutriQuest)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential increased $2.40 this week to a projected gain of $8.15 per head.

(NutriQuest)

Why Can't Soybeans Bottom With China Purchases? Are They Buying Corn?

Fri, 19 Dec 2025 19:39:25 GMT

Corn and wheat ended higher Tuesday with soybeans lower. Livestock futures saw a down day in cattle but higher in hogs.

Corn Rallies on China Buying?
Corn futures were up for a second day after seeing technical buying and with some talk of China buying corn out of the Pacific Northwest. Ted Seifried with Zaner Ag Hedge says rumors of China purchases circulate nearly every time the corn market rallies. However, he is not seeing evidence of those purchases and doubts China needs corn. “I don’t know why China would buy U.S. corn. It wasn’t part of the agreement, which is yet to be signed. So unless it was politically motivated, I would think China would want to go to Brazil. They have this new relationship with Brazil. When it comes to their corn, I think they want to protect their relationships with Brazil,” he says.

He admits port values in the PNW did kind of spike and so did basis. However, he doesn’t think that necessarily means China. “It could be one of our normal customers, like Japan, for example,” he says.

Corn Sees Short Covering
So Seifried thinks the bounce was technically inspired buying after the March contract bounced off the 100-day moving average support area on Wednesday. However, corn has been trading sideways between that support and overhead resistance up at the 200-day moving average. He says if corn could finally close above that level for more than a day, it could take out the $4.50 area and stage a bit of a breakout.

“We saved a breakdown below the neckline of what could potentially be a head and shoulders topping formation in corn. Now, if we were able to get up and over that 200-day moving average for the fourth time, close above it and then not break down the very next day like we have the previous three times. We could potentially break out to the upside and really negate this potential head and shoulders formation,” Seifried explains.

Corn Needs a Catalyst
However, corn will need a catalyst to get above that chart resistance because farmer selling picks up when corn gets to the top side of the trading range. The catalyst could come in the January WASDE if USDA would lower yield. It would take a sizable cut to get the bulls excited and get below 2 billion bu. carryout he says. “I do think if you cut two or three bushel an acre off of corn, we’ll get below a 2 billion bu. carryover, but I don’t know about significantly below 2 billion bushel because it will be offset by USDA lowering feed and residual,” he explains.

Wheat Follows Corn
Wheat futures got spillover support from the corn market but Seifried says soft red winter wheat also saw technical buying to relieve its oversold condition. “Chicago wheat hit new contract lows Tuesday and Wednesday so it was due for a correction,” he says. However, wheat will have a tough time rallying due to the big global production. “USDA has had to continue to raise the world production number. I think we’re, what, 30 MMT off of the original number they had a few months ago,” he states. China canceling two cargoes of white wheat from the U.S. was also bearish for the market. “Anytime China cancels anything, that really does not help the market psychology.”

Why Do Soybeans Continue Lower Despite China Purchases?
The soybean market continues to slide despite the confirmation of export sales and China soybean purchases. USDA reported another 4.2 million bu. flash sale of soybeans to unknown destinations on Thursday morning and adds to the string of recent purchases that have included China. Seifried says however, that business has not been enough to support the market because it’s half the soybean purchases China made last year.

“The problem is, is that I think the markets realized that 12 million metric tons probably isn’t enough to get us to the USDA full marketing year expectations for our exports, and that they’ll probably have to cut exports again if China doesn’t buy above and beyond that 12 million metric tons. And while the buying is good, the pace does not suggest necessarily that they’re going to outperform on that one,” he explains.

Seifried says South American weather is also favorable and soybean prices in Brazil are cheaper than the U.S. and so there’s no reason for China or any other countries to buy soybeans if it isn’t politically motivated.

Funds also got near record long in mid-November while the government was shut down and they are exiting those positions. “The analyst guesses were, were so far off they weren’t even half of what the funds actually accumulated as far as their long position. And the funds have just simply lost interest in the story. And so they’re getting out of that position,” he adds.

Soybeans Make New Lows for the Move
Soybean futures made new lows for the move on additional technical selling and fund liquidation. Seifried says the market confirmed the head and shoulders top, fell to fill the chart gap areas and then closed below that level which is bearish. Funds got near record long in soybeans in mid-November and then started to bail on those positions and take profits and they are still liquidating.

Profit Taking in Cattle
Live and feeder cattle futures were down for a second day with the market consolidating after several attempts to take out chart resistance areas. Seifried says in live cattle the market has been capped by the 100-day moving average. So, cattle are at a pivotal point and need to fill gap areas on the chart to keep moving higher.

“I mean, the good news there is that both cattle and feeders did close well off their lows. So, you know, we didn’t completely fall apart after running into the one hundred day moving average, major moving average pretty much five days in a row. Not being able to to to break through it and break out to the upside and fill the gap above us. The market finally just gave in a bit.” he says.

Cash trade will also be a key. Thursday some light trade developed in the North at mostly $358 dressed, up $4, with a range of $355 to $363 and live sales prices at $228.

Lean Hogs Finish Higher
Lean hog futures were higher on short covering and fund buying after a lower day on Wednesday. Seifried says the hog market is also getting support from a possible seasonal bottom in cash and cutouts.

Weaner Pig Breakeven at $74.67, Up $5.66 from Last Week

Mon, 15 Dec 2025 20:03:41 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on Dec. 12 and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in May 2026 using June 2026 futures, the weaner breakeven was $74.67, up $5.66 for the week. Feed costs were down $0.62 per head, and June futures increased $2.40 compared to last week’s futures, while historical basis is unchanged from last week.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $100.78.

(NutriQuest)

Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report

Cash traded weaner pig volume was below average this week with 54,004 head being reported which is 79% of the 52-week average. Cash prices were $68.91, up $3.80 from a week ago. The low to high range was $57 to $76. Cash prices were 69.01% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were up $0.43 this week at $59.90.

Cash-traded feeder pig reported volume was below average with 13,000 head reported. Cash feeder pig reported prices were $85.19, up $1.81 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

(NutriQuest)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

(NutriQuest)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through Dec. 12.

(NutriQuest)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential increased $1.86 this week to a projected gain of $5.76 per head.

(NutriQuest)

Jennifer Brown is Director of NutriQuest Business Solutions, a division of NutriQuest. NutriQuest Business Solutions is a team of leading business and financial experts that bring years of unparalleled experience in the livestock, row-crop and financial industries. At NutriQuest our success comes from helping producers realize improved profitability and sustainability through innovation driven by a relentless focus on helping producers succeed. For more information, please visit our website at www.nutriquest.com or email jenniferbrown@nutriquest.com.

Weaner Pig Breakeven at $69.01, Up $16.24 from Last Week

Mon, 08 Dec 2025 20:44:07 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on Dec. 5 and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in May 2026 using June 2026 futures, the weaner breakeven was $69.01, up $16.24 for the week. Feed costs were down $0.97 per head, and June futures increased $10.48 compared to last week’s futures, while historical basis is declined from last week by $3.20 per cwt.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $95.12.

(Nutriquest)

Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report
Cash-traded weaner pig volume was above average this week with 89,483 head being reported which is 130% of the 52-week average. Cash prices were $65.11, up $2.14 from a week ago. The low to high range was $50 to $76. Cash prices were 69.70% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were down $0.15 this week at $59.47.

Cash-traded feeder pig reported volume was above average with 15,800 head reported. Cash feeder pig reported prices were $83.38, up $0.60 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

(Nutriquest)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

(Nutriquest)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through Dec. 5.

(Nutriquest)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential increased $14.10 this week to a projected gain of $3.90 per head.

(Nutriquest)

Jennifer Brown is Director of NutriQuest Business Solutions, a division of NutriQuest. NutriQuest Business Solutions is a team of leading business and financial experts that bring years of unparalleled experience in the livestock, row-crop and financial industries. At NutriQuest our success comes from helping producers realize improved profitability and sustainability through innovation driven by a relentless focus on helping producers succeed. For more information, please visit our website at www.nutriquest.com or email jenniferbrown@nutriquest.com.

Pork Packer Margins Highest Since Feb. '24, Producer Margins Lowest Since Oct. '24

Wed, 03 Dec 2025 15:48:47 GMT

On the pork side, packer margins continued to improve with Sterling’s estimate at $38.42/head and the highest since Feb. ’24.

At the same time, farrow-to-finish margins averaged $9.71/head and the lowest since Oct. ’24. Producers may be potentially facing this downward margin trend into January.

View the full Sterling Pork Profit Tracker for the week ending Nov. 29.

The Beef and Pork Profit Trackers are calculated by Sterling Marketing, Vale, Ore.

(Note: The Sterling Beef Profit Tracker calculates an average beef cutout value for the week in its estimates for feedyard and packer margins. Other prices in the weekly Profit Tracker also are calculated weekly averages. Feedyard margins are calculated on a cash basis only with no adjustment for risk management practices. The Beef and Pork Profit Trackers are intended only as a benchmark for the average cash costs of feeding cattle and hogs. Sterling Marketing is a private, independent beef and pork consulting firm not associated with any packing company or livestock feeding enterprise.)

Weaner Pig Breakeven at $52.77, Up $6.02 from Last Week

Mon, 01 Dec 2025 17:39:59 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn, and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on Nov. 28 and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in May 2026 using May 2026 futures, the weaner breakeven was $52.77, up $6.02 for the week. Feed costs were up $1.07 per head, and May futures increased $3.38 compared to last week’s futures, while historical basis is unchanged from last week.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $78.88.

Figure 1

(NutriQuest)

Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report
Cash-traded weaner pig volume was below average this week with 66,041 head being reported which is 97% of the 52-week average. Cash prices were $62.97, down $0.80 from a week ago. The low to high range was $49 to $76. Cash prices were 72.81% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were up $2.63 this week at $59.62.

Cash-traded feeder pig reported volume was below average with 9,450 head reported. Cash feeder pig reported prices were $82.78, up $1.96 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

Graph 1

(NutriQuest)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

Graph 2

(NutriQuest)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through Nov. 28.

Graph 3

(NutriQuest)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential increased $6.82 this week to a projected loss of $10.20 per head.

Graph 4

(NutriQuest)

Jennifer Brown is Director of NutriQuest Business Solutions, a division of NutriQuest. NutriQuest Business Solutions is a team of leading business and financial experts that bring years of unparalleled experience in the livestock, row-crop and financial industries. At NutriQuest our success comes from helping producers realize improved profitability and sustainability through innovation driven by a relentless focus on helping producers succeed. For more information, please visit our website at www.nutriquest.com or email jenniferbrown@nutriquest.com.

Weaner Pig Breakeven at $46.75, Down $2.94 from Last Week

Mon, 24 Nov 2025 17:59:58 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn, and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on Nov. 21 and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in May 2026 using May 2026 futures, the weaner breakeven was $46.75, down $2.94 for the week. Feed costs were down $0.89 per head, and May futures decreased $1.83 compared to last week’s futures, while historical basis is unchanged from last week.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $72.86.

Figure 1

(NutriQuest)

Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report
Cash-traded weaner pig volume was below average this week with 53,880 head being reported which is 80% of the 52-week average. Cash prices were $63.77, down $0.13 from a week ago. The low to high range was $47.00 - $75.00. Cash prices were 74.40% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were down $1.89 this week at $56.99.

Cash-traded feeder pig reported volume was below average with 14,725 head reported. Cash feeder pig reported prices were $80.82, down $1.35 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

Graph 1

(NutriQuest)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

Graph 2

(NutriQuest)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through Nov. 21.

Graph 4

(NutriQuest)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential decreased $2.81 this week to a projected loss of $17.02 per head.

Graph 4

(NutriQuest)

Jennifer Brown is Director of NutriQuest Business Solutions, a division of NutriQuest. NutriQuest Business Solutions is a team of leading business and financial experts that bring years of unparalleled experience in the livestock, row-crop and financial industries. At NutriQuest our success comes from helping producers realize improved profitability and sustainability through innovation driven by a relentless focus on helping producers succeed. For more information, please visit our website at www.nutriquest.com or email jenniferbrown@nutriquest.com.

Pork Exports Remain Strong in August; Beef Decline Continues

Thu, 20 Nov 2025 18:21:39 GMT

USDA has released August red meat export data, which was delayed due to the lengthy government shutdown. As compiled by the U.S. Meat Export Federation (USMEF), August data showed a relatively strong performance for U.S. pork exports. But beef exports were sharply lower than a year ago, impacted heavily by an impasse with China that has effectively locked U.S. beef out of the world’s largest import market.

August pork exports totaled 236,311 metric tons (mt), down 1% from a year ago, valued at $685.9 million (down 2%). August exports were bolstered by another remarkable performance by leading market Mexico, where shipments climbed 8% from a year ago to 102,790 mt, the fifth largest volume on record. Export value reached $252.3 million, up 9% and the second highest on record, trailing only December 2024.

For January through August, pork exports were 3% below last year’s record pace in both volume (1.93 million mt) and value ($5.48 billion). This gap is mostly attributable to lower exports to China, where U.S. pork faces retaliatory tariffs. This situation was especially disruptive in the spring months, when tariffs imposed by the U.S. and China temporarily escalated and there was growing uncertainty about the continued eligibility of U.S. plants. While this situation has since stabilized, China’s total tariff on U.S. pork and most pork variety meat had been 57% until Nov. 10, when it was reduced to 47%.

August beef exports totaled 83,388 mt, down 19% from a year ago and the lowest since June 2020. Export value fell 18% to $695.5 million, the lowest since February 2021. While exports to China plummeted, shipments were fairly steady to leading market South Korea and trended higher than a year ago to the Caribbean and Central and South America.

For January through August, beef exports were 9.5% below last year at 775,188 mt, while value declined 9% to $6.37 billion.

Mexico and Central America continue to shine for U.S. pork

Pork exports to Mexico continue to reach new heights in 2025, with January-August shipments climbing 3% above last year’s record pace in volume (781,605 mt) and 6% higher in value ($1.78 billion). The leading destination for U.S. pork is increasingly competitive, with Brazil’s pork shipments to Mexico (through October) increasing 64% from a year ago to nearly 64,000 mt. However, Brazil still captured less than 5% market share, while U.S. market share is about 80%.

August pork exports to Central America also trended higher, keeping shipments to the region on a record pace. Through August, pork exports to Central America totaled 118,257 mt, up 22% from last year’s record. Value soared 25% to $377.5 million, led by robust growth in Honduras, Guatemala and Costa Rica.

Pork exports to Colombia took a step back in August, falling 29% from last year’s very robust totals in both volume (9,418 mt) and value ($28 million). But January-August shipments to Colombia were still on a record pace, increasing 9% to 85,707 mt, valued at $245.4 million (up 11%).

Among other markets, August pork exports trended higher than a year ago to Korea, the Caribbean, Australia and the Philippines. Shipments were below last year to China, Japan, Canada, Taiwan and Hong Kong.

Pork export value equated to $67.74 per head slaughtered in August, up 5% from a year ago, while the January-August average was $65.55 per head, down 1%. Exports accounted for 31% of total August pork production, up two full percentage points from a year ago. For muscle cuts only, the ratio exported was about one percentage point higher at 26.3%. For January through August, exports accounted for just under 30% of total production, down slightly from a year ago. The ratio of muscle cuts exported was steady at 26.1%.

Some bright spots for beef, but impasse with China weighs heavily on exports

With U.S. beef facing a multi-layered lockout in China, export results have worsened throughout 2025 as supplies of eligible product were depleted and more plants were suspended in June and August. Exports sank to just 862 mt in August, down 94% from a year ago. For January through August, exports to China were 52% below last year in volume (56,494 mt) and 53% lower in value ($484.2 million). The accumulated decline in exports for January through October is estimated at $832 million, as September and October exports are also certain to be minimal. As USMEF has previously reported, China has failed to renew registrations for the vast majority of U.S. beef plants and cold storage facilities. But renewing these registrations is just one of the steps necessary to restore access for U.S. beef in China, where 16 U.S. plants have been suspended since June and 30 facilities have been suspended since 2022. For China to return to its commitments under the U.S.-China Phase One Agreement, it must address all of the barriers obstructing access for U.S. beef.

August beef exports to leading market Korea were slightly below last year in volume, falling 1.5% to 16,823 mt. But export value still increased 3% to $168 million. For January through August, exports to Korea increased 8% from a year ago in volume (162,907 mt) and 9% in value ($1.55 billion).

Beef exports to Central America posted another strong performance in August, climbing 5% from a year ago to 1,512 mt, while value soared 50% to $17 million. Led by robust growth in Guatemala and Costa Rica, January-August beef exports to the region are on a record pace, reaching 14,520 mt, up 6% from a year ago, while value climbed 34% to $134.2 million.

Among other markets, August beef exports trended higher than a year ago to the Caribbean region, led by growth in the Dominican Republic, Bahamas and Jamaica, and to South America, led by growth in Chile (where exports have been above year-ago levels in each of the past six months) and a rebound in Colombia. Exports were also higher to Hong Kong, the Philippines, Vietnam, Europe and Morocco, but trended lower to Japan, Mexico, Canada, Taiwan and the Middle East.

Beef export value equated to $372.10 per head of fed slaughter in August, down 5% from a year ago. The January-August average was $400.16 per head, down 3.5% from the same period last year. Exports accounted for 12.1% of total August beef production and 9.8% for muscle cuts only – each down about one percentage point from a year ago. The January-August ratios were 13.1% of total production and 11% for muscle cuts, down from 13.9% and 11.6%, respectively, during the same period last year.

Full January-August export results for U.S. pork, beef and lamb are available from USMEF’s statistics web page .

Weaner Pig Breakeven at $49.68, Up $4.33 from Last Week

Mon, 17 Nov 2025 20:36:45 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on Nov. 14, 2025 and CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in May 2026 using May 2026 futures, the weaner breakeven was $49.68, up $4.33 for the week. Feed costs were up 53¢ per head, and May futures decreased 38¢ compared to last week’s futures, while historical basis is improved from last week by $2.69 per cwt.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $75.79.

(NutriQuest Business Solutions)

Note: The weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report
Cash traded weaner pig volume was below average this week with 58,700 head being reported which is 87% of the 52-week average. Cash prices were $63.90, down $1.39 from a week ago. The low to high range was $52.00 to $78.00. Cash prices were 73.60% of average six-month Lean Hog Futures for the week.

Formula priced weaners were down $2.17 this week at $58.88.

Cash traded feeder pig reported volume was above average with 18,650 head reported. Cash feeder pig reported prices were $82.17, up $3.11 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

(NutriQuest Business Solutions)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of six-month Lean Hog Futures.

(NutriQuest Business Solutions)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through Nov. 14, 2025.

(NutriQuest Business Solutions)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential increased $5.72 this week to a projected loss of $14.22 per head.

(NutriQuest Business Solutions)

Jennifer Brown is Director of NutriQuest Business Solutions, a division of NutriQuest.NutriQuest Business Solutions is a team of leading business and financial experts that bring years of unparalleled experience in the livestock, row-crop and financial industries. At NutriQuest our success comes from helping producers realize improved profitability and sustainability through innovation driven by a relentless focus on helping producers succeed. For more information, please visit our website at www.nutriquest.com or email jenniferbrown@nutriquest.com .

Weaner Pig Breakeven at $45.36, Down $5.68 from Last Week

Mon, 10 Nov 2025 21:30:31 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on Nov. 7 and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in April 2026 using May 2026 futures, the weaner breakeven was $45.36, down $5.68 for the week. Feed costs were up $0.28 per head, and May futures decreased $2.58 compared to last week’s futures, while historical basis is unchanged from last week.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $71.47.

(NutriQuest Business Solutions)

Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report
Cash-traded weaner pig volume was above average this week with 78,660 head being reported which is 115% of the 52-week average. Cash prices were $65.29, down $2.34 from a week ago. The low to high range was $51 to $80. Cash prices were 73.95% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were up $1.62 this week at $61.05.

Cash-traded feeder pig reported volume was above average with 18,535 head reported. Cash feeder pig reported prices were $79.06, down $1.47 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

(NutriQuest Business Solutions )

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

(NutriQuest Business Solutions )

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through Nov. 7.

(NutriQuest Business Solutions)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential decreased $3.34 this week to a projected loss of $19.94 per head.

(NutriQuest Business Solutions )

Jennifer Brown is Director of NutriQuest Business Solutions, a division of NutriQuest. NutriQuest Business Solutions is a team of leading business and financial experts that bring years of unparalleled experience in the livestock, row-crop and financial industries. At NutriQuest our success comes from helping producers realize improved profitability and sustainability through innovation driven by a relentless focus on helping producers succeed. For more information, please visit our website at www.nutriquest.com or email jenniferbrown@nutriquest.com.

Weaner Pig Breakeven at $51.04, Down $8.47 from Last Week

Mon, 03 Nov 2025 16:05:01 GMT

NutriQuest Business Solutions publishes weekly weaner pig profitability calculations which uses industry representative production costs and futures pricing for lean hogs, corn and soybean meal, using historical basis assumptions, to establish approximate profitability and break-even pricing for the current sale or purchase of weaner pigs. Prices are based on closing futures prices on Oct. 31 and assumes CME Lean Hog Index cost and historical basis assumptions.

When you consider that today’s purchased weaner would be sold in April 2026 using May 2026 futures, the weaner breakeven was $51.04, down $8.47 for the week. Feed costs were up $2.16 per head, and May futures increased $0.63 compared to last week’s futures, while historical basis is declined from last week by $3.63 per cwt.

The “weaner pig breakeven” is an all-in break-even considering fixed costs (e.g., housing and labor) that would be incurred by the buyer. However, many buyers of weaners have empty space and therefore will incur these fixed costs whether the buildings are stocked with weaners. For those producers with empty space, the maximum price a buyer could pay for a weaner pig and breakeven is the “margin over variable costs,” which is $77.15.

(NutriQuest Business Solutions 10.31.25)

Note that the weaner pig profitability calculations provide weekly insight into the relative value of pigs based on assumptions that may not be reflective of your individual situation.

From the National Direct Delivered Feeder Pig Report
Cash-traded weaner pig volume was above average this week with 96,050 head being reported which is 142% of the 52-week average. Cash prices were $67.63, up $4.50 from a week ago. The low to high range was $51 to $81. Cash prices were 75.77% of average 6-month Lean Hog Futures for the week.

Formula-priced weaners were down $0.46 this week at $59.43.

Cash-traded feeder pig reported volume was above average with 17,120 head reported. Cash feeder pig reported prices were $80.53, up $3.84 per head from last week.

Graph 1 shows the seasonal trends of the cash weaner pig market.

(NutriQuest Business Solutions)

Graph 2 shows the seasonal trends of cash weaner pig market as percentage of 6-month Lean Hog Futures.

(NutriQuest Business Solutions)

Graph 3 shows the cash weaner price and cash feeder price on a weekly basis through Oct. 31.

(NutriQuest Business Solutions)

Graph 4 shows the estimated weaner pig profit by comparing the weaner pig cash price to the weaner breakeven. The profit potential decreased $12.97 this week to a projected loss of $16.59 per head.

(NutriQuest Business Solutions)

Jennifer Brown is Director of NutriQuest Business Solutions, a division of NutriQuest. NutriQuest Business Solutions is a team of leading business and financial experts that bring years of unparalleled experience in the livestock, row-crop and financial industries. At NutriQuest our success comes from helping producers realize improved profitability and sustainability through innovation driven by a relentless focus on helping producers succeed. For more information, please visit our website at www.nutriquest.com or email jenniferbrown@nutriquest.com.

Pork's Wild Ride: Unpacking 2025's Industry Surprises and What Lies Ahead

Fri, 31 Oct 2025 16:05:59 GMT

Crazy and unpredictable are two words Christine McCracken, senior animal protein analyst for RaboResearch, uses to describe the pork industry in 2025.

“Globally, the pork industry is seeing steady declines in the size of the sow herd, and that runs contrary to what we expected,” McCracken says. “If you think about the profitability of the industry, and how much pain we’ve come through in the past few years, the expectation would have been a rebuilding and a stabilization of the industry. It feels like we’re going the other way, and that, in part, reflects the ongoing uncertainty we’ve had in the market.”

The high cost of expansion, global export uncertainty and ongoing disease challenges are likely at the root of delayed growth.

“I think that’s helped the industry weather some of this uncertainty over the past several months and see some better profitability, which is not necessarily a bad thing after all the pain the last few years,” she points out.

Domestic Competition is Undeniable

Beef and chicken continue to be big competitors for the consumer’s dollar. McCracken says consumers are gravitating toward beef despite record high prices.

“We’re looking at tighter beef supplies through at least 2027 and 2028 and obviously that won’t turn around overnight. Short-term trade issues can also impact that supply,” McCracken says. “We rely on imports of grinds to fill in some of those gaps. The real story for beef this year has been the demand side, which has been exceptionally strong. But beef is just part of the story. If you think about where we see some pressure for pork, it’s really from chicken.”

The chicken industry has been building supply. They’ve also seen the nice rebound in margins that the pork industry has seen, she points out. As a result, there’s been a big increase in chicken supplies through the fourth quarter.

“The challenge is that food service continues to struggle with weaker consumer traffic, which has been made worse by inflation, and more recently the government shutdown and big layoffs. And things could get a bit worse in 2026,” McCracken says.

There are some pluses and minuses heading into the end of the year, she adds.

“You’ve got shrinking beef and turkey supplies and higher prices,” McCracken says. “Maybe that’s helping some categories, but at the same time, we’re seeing a lot of chicken out there. It’s a mixed bag when you think about competing protein and the upcoming holidays. I believe there’s some opportunities for the pork industry to win during this holiday season.”

Pork is a central part of holiday celebrations in the U.S., she says. It’s also a good option for many consumers, especially when you think about stretching the food dollar to feed large families.

Global Challenges Persist

“Globally, there are pockets where we’re still seeing some challenges,” McCracken says. “China is a big one. The Chinese swine industry is really struggling. Not only is the market dealing with an oversupply of pork, but the government is forcing the industry to reduce numbers - which will only make things worse in the near term. At the same time the Chinese consumer is struggling and that isn’t getting better. So I don’t think you will see any big improvement in the market until late 2026.”

Meanwhile, Europe is starting to see some stabilization, it’s still facing higher costs as it complies with added regulatory pressure, especially in parts of northern Europe. Disease is also raising costs, as the industry has seen higher death loss and challenging trade constraints,” she says.

She hopes the U.S. can get some traction in new and emerging markets that could come as a result of recent trade deals, along with some improvement with China. The upcoming renewal of USMCA still weighs heavy as a potential risk, especially as U.S. pork relies heavily on the Mexican and Canadian markets for trade and as Brazil continues to gain share.

“There are a lot of things happening globally that can affect us locally. We spend a lot of time watching those markets to make sure the industry stays informed,” McCracken says.

A Reason for Optimism

She says producers are cautiously optimistic thanks to a good supply of feed and (hopefully) a more favorable health outlook heading into 2026.

“They’re obviously seeing a better feed cost outlook, relative to the past few years, helping out a little bit,” McCracken says. “But there are a lot of potential cost pressures as you think about higher construction costs, labor challenges in some areas, and even higher insurance premiums putting pressure on some operations. Then when you add in the trade risk, it creates a bit more uncertainty for 2026.”

She says the outlook for costs over the next 12 to 18 months, unfortunately, likely won’t get much better.

“There are a lot of efforts to build pork demand, not just domestically, but internationally,” McCracken says. “I think those are long-term efforts that don’t necessarily have quick results. Producers are just trying to be mindful of what the market needs, and make sure they’re watching what they can control, managing their risk as much as they can, and watching herd health to make sure their pigs are in good condition.”

It’s a lot for producers to manage. But she believes the key forward is to keep focusing on what you can control – biosecurity.

“On the whole, I’m relatively optimistic,” McCracken says. “I think we’ll have to wait and see what happens with some of these factors that obviously are bigger than us and trying to mitigate that risk.”