Latest News From Pork Market Reports and Analysis

Cash-traded weaner pig volume was above average this week with 66,465 head being reported, which is 107 percent of the 52-week average.

The North American pork market is undergoing a period of rebalancing, as producers grapple with challenging margin outlooks and the need for strategic adjustments in response to economic factors.

U.S. pork exports posted another strong performance in October. Beef exports remained well below last year’s large totals but improved from September.

USDA’s Economic Research Service recently shared the September 2023 outlook for pork and hogs, following a slightly lower month of pork production in August.

The spread between cattle feeding margins and beef packer margins has now reached $500 per head as packing losses increase. Pork producer margins are the highest of the year.

With the Fourth of July holiday weekend nearing and the upcoming Hogs and Pigs inventory report, Rabobank shares key insights to the hog and pork markets for the remainder of 2023 and into next year.

Beef exports set records for both volume and value in 2022, while pork export value finished with the third-largest year on record.

The perfect storm of lower supplies of slaughter-ready hogs with confronting consumer resistance to pork price increases put the pressure on processors’ price spreads.

Cash-traded feeder pig reported volume was above average this past week, with 12,685 head reported. Cash feeder pig reported prices were $61.37, up $4.18 per head from last week.

Cash-traded weaner pig reported volume was below average this past week, with 30,910 head reported. Cash weaner pig reported prices were $40.07, up $2.14 per head from last week.

Cash-traded weaner pig reported volume was below average this past week, with 32,163 head reported. Cash weaner pig reported prices were $37.93, up $5.01 per head from last week.

Cash-traded feeder pig reported volume was above average this past week, with 10,705 head reported. Cash feeder pig reported prices were $53.99, up $2.61 per head from last week.

Cash-traded weaner pig reported volume was below average this past week, with 29,002 head reported. Cash weaner pig reported prices were $29.62, down $0.72 per head from last week.

Cash-traded feeder pig reported volume was above average this past week, with 14,556 head reported. Cash feeder pig reported prices were $50.48, down $0.10 per head from last week.

Cash-traded weaner pig reported volume was above average this past week, with 37,799 head reported. Cash weaner pig reported prices were $31.85, down $2.07 per head from last week.

A 1.9% year-over-year drop in the U.S. swine breeding herd, combined with ongoing productivity challenges, will limit 2022 U.S. hog slaughter and remain supportive to nearby markets, says Christine McCracken, Rabobank.

Cash-traded feeder pig reported volume was above average this past week, with 9,150 head reported. Cash feeder pig reported prices were $76.25, up $2.51 per head from last week.

Cash-traded feeder pig reported volume was below average with 2,335 head reported. Cash feeder pig reported prices were $57.20, down $6.70 per head from last week.

Cash-traded feeder pig reported volume was above average with 10,530 head reported. Cash feeder pig reported prices were $61.90, down $1.17 per head from last week.

Cash-traded weaner pig volume was above average this week with 55,737 head being reported which is 117% of the 52-week average.

Cash-traded weaner pig volume was below average this week with 31,489 head being reported which is 66% of the 52-week average.

Cash-traded feeder pig reported volume was below average this past week, with 5,985 head reported. Cash feeder pig reported prices were $72.39, down $7.74 per head from last week.

Cash-traded weaner pig reported volume was below average this past week, with 34,000 head reported. Cash weaner pig reported prices were $48.56, up $0.62 per head from last week.

Cash-traded feeder pig reported volume was below average this past week, with 5,400 head reported. Cash feeder pig reported prices were $79.78, down $8.07 per head from last week.

Cash-traded weaner pig reported volume was below average this past week, with 40,250 head reported. Cash weaner pig reported prices were $50.56, down $0.38 per head from last week.

Cash-traded feeder pig reported volume was below average this past week, with 7,245 head reported. Cash feeder pig reported prices were $99.70, down $1.61 per head from last week.

Cash-traded weaner pig reported volume was below average this past week, with 40,200 head reported. Cash weaner pig reported prices were $53.33, down $0.29 per head from last week.

Cash-traded feeder pig reported volume was above average this past week, with 8,230 head reported. Cash feeder pig reported prices were $98.72, down $2.24 per head from last week.

The latest USDA report shows there’s a great deal of caution in the pork industry right now despite some of the highest prices the industry has seen in some time, says John Nalivka, president of Sterling Marketing.

Cash prices for both cattle and hogs advanced last week leaving feeding margins for both species solidly in the black. Hog margins were positive for the eighth consecutive week and cattle climbed out of the red.

The USDA’s March Hogs and Pigs report estimates represent the first March-over-March reduction since 2014, says Jason Franken, Western Illinois University ag economist. Here's his perspective on the pork outlook.

For the week of March 26, cash-traded feeder pig reported volume was below average with 4,500 head reported. Cash feeder pig reported prices were $97.44, up $12.91 per head from last week.

For the week of March 19, cash-traded weaner pig volume was below average this week with 32,650 head being reported which is 65% of the 52-week average. Cash prices were $53.56, down $3.02 from a week ago.

For the week of March 12, cash-traded feeder pig reported volume was above average with 7,835 head reported. Cash feeder pig reported prices were $90.38, up $0.17 per head from last week.

For the week of March 5, Cash-traded weaner pig volume was below average this week with 31,542 head being reported which is 62% of the 52-week average.

For the week of February 26, cash-traded feeder pig reported volume was below average with 4,200 head reported. Cash feeder pig reported prices were $87.43, up $6.38 per head from last week.

For the week of February 19, cash-traded feeder pig reported volume was below average with 5,525 head reported. Cash feeder pig reported prices were $81.05, up $3.27 per head from last week.

For the week of February 12, cash-traded weaner pig volume was below average this week with 23,125 head being reported which is 45% of the 52-week average.

For the week of February 5, cash-traded feeder pig reported volume was above average with 8,305 head reported. Cash feeder pig reported prices were $74.76, up $7.00 per head from last week.

Cash-traded weaner pig volume was below average this week with 41,830 head being reported which is 81% of the 52-week average. Cash prices were $61.48, up $3.01 from a week ago.

Cash traded feeder pig reported volume was below average with 7,180 head reported. Cash feeder pig reported prices were $70.33, up $5.21 per head from last week.

Cash-traded weaner pig volume was below average this week with 46,650 head being reported which is 90% of the 52-week average.

Cash-traded feeder pig reported volume was above average with 14,375 head reported. Cash feeder pig reported prices were $68.80, up $1.42 per head from last week.

Cash-traded weaner pig volume was below average this week with 29,096 head being reported which is 56% of the 52-week average. Cash prices were $55.04, up $4.50 from a week ago.

Cash-traded feeder pig reported volume was above average this past week, with 13,450 head reported. Cash feeder pig reported prices were $59.70, up $3.55 per head from last week.

Cash-traded feeder pig reported volume was above average with 7,670 head reported. Cash feeder pig reported prices were $56.15, up $0.32 per head from last week.

Cash-traded weaner pig volume was above average this week with 69,840 head being reported which is 129% of the 52-week average.

Cash-traded weaner pig volume was above average this week with 90,350 head being reported which is 168% of the 52-week average. Cash prices were $43.23, up $2.35 from a week ago.

Cash-traded feeder pig reported volume was below average with 2,600 head reported. Cash feeder pig reported prices were $50.00, down $0.77 per head from last week.

Cash-traded weaner pig volume was below average this week with 44,287 head being reported which is 84% of the 52-week average. Cash prices were $37.76, up $0.20 from a week ago.