Pork Market Reports and Analysis

Packer Margins Flip Negative as Hog Prices Rise

Wed, 13 May 2026 16:17:46 GMT

Farrow-to-finish margins gained nearly $8/head last week as indicated by Sterling estimated average of $65.55/head. Calculated break-evens were down slightly from the prior week while the W. Cornbelt Lean Carcass Value averaged $95.12/cwt. for the week compared to $92.55/cwt. a week earlier.

Pork packer margins eroded further last week with Sterling’s estimated average for the week at -$7.60/head compared to $1.01/head the previous week as the result of the stronger Lean Carcass Value and weakness in the Pork Cutout. The Pork Cutout averaged $96.32/cwt. down from $97.81/cwt. a week earlier.

View the full Sterling Pork Profit Tracker for the week ending May 9.

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.)

Farrow-to-Finish Margins Hold Firm at $57.97

Wed, 06 May 2026 14:35:42 GMT

Sterling estimated farrow-to-finish margins last week $57.97/head and the same as the previous week. The W. Cornbelt lean carcass value averaged $92.55/cwt. for the week against $92.13/cwt. the prior week with the breakeven for finished hogs averaging $65.83/cwt. compared to $65.42/cwt. the prior week.

Last week’s Sterling estimated packer margins averaged $1.01/head compared to $4.54/head the previous week. Capacity utilization for market hogs averaged 92.4%.

View the full Sterling Pork Profit Tracker for the week ending May 2.

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.)

Pork Profitability Holds Steady: Farrow-to-Finish Margins Near $58

Tue, 28 Apr 2026 16:37:32 GMT

Sterling estimated margins across the pork industry remain nearly unchanged from the prior week. Farrow-to-finish did show about a $2/head improvement from the prior week to average $57.97/head compared to $55.68/head the prior week.

The Lean Carcass Value averaged $92.13/cwt for the week. Sterling’s estimated packer margin for the week was $4.54/head against $3.24/head a week earlier. Plant capacity utilization averaged 92.9% according to the Sterling estimate. Market hog slaughter hovering at 2.4 to 2.5 million for the past year, this has held utilization in the low-to-mid 90% range.

View the full Sterling Pork Profit Tracker for the week ending April 25.

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.)

Pork Market Analysis: Lean Carcass Values Rise While Cutout Remains Steady

Tue, 21 Apr 2026 14:28:40 GMT

While Sterling’s estimate of packer margins averaged $3.11/head last week against $5.51/head the previous week, farrow-to-finish margins averaged $55.42/head and about $2/cwt. higher than the prior week.

The Lean Carcass Value averaged $91.38/cwt. last week compared to $90.49/cwt. a week earlier while the breakeven for finished market hogs hovers near $66/cwt., break-evens for hogs placed on the finishing floor last week was estimated by Sterling Marketing at $68/cwt.

The Pork Cutout value last week averaged $97.75/cwt. and little changed from the previous week’s average of $97.97/cwt.

View the full Sterling Pork Profit Tracker for the week ending April 18.

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.)

Farrow-to-Finish Margins Hold Steady at $53 Per Head

Wed, 15 Apr 2026 12:19:48 GMT

Compared to the prior week, there was little change in the pork industry margin situation last week. Farrow-to-finish margins were $53.09/head against $51.84/head the previous week with the Lean Carcass Value averaging $90.49 compared to $90.43/cwt. the previous week.

Packer margins averaged $5.51/head last week with an average Pork Cutout of $90.49/cwt., about unchanged from $90.43/cwt. the previous week.

View the full Sterling Pork Profit Tracker for the week ending April 11.

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.)

Farrow-to-Finish Margins Average $51.84/head

Wed, 08 Apr 2026 10:56:20 GMT

Pork packer/processor margins improved last week with the Lean Carcass Value averaging $90.43/cwt. against $91.84/cwt. the previous week. The Pork Cutout was a bit averaged $97.11/cwt. for the week compared to $96.98 the previous week.

At 2,336,100 head, hog numbers going through the plants was down about 110,000 head from a week earlier with utilization averaging 90% for the week. Capacity utilization for the previous was at 94.6%.

Sterling’s estimated packer margin last week averaged $3.44/head while Sterling’s estimated farrow-to-finish margins averaged $51.84/head for the week.

View the full Sterling Pork Profit Tracker for the week ending April 4.

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.)

Farrow-to-Finish Margins Unchanged as Producers Exercise Caution

Wed, 01 Apr 2026 15:39:28 GMT

Farrow-to-finish margins averaged $55.35/head last week and unchanged from the prior week with W. Cornbelt Lean Carcass Value averaging $91.84/cwt. and down only slightly from the prior week. This situation with positive farrow-to-finish margins is likely to continue with the March 1 Hogs and Pigs Report showing hog numbers unchanged from a year earlier as producers with long memories exercise caution.

Packers saw the Pork Cutout weaken to $96.98/cwt. from $99.28 the prior week which in turn led to only a breakeven margin compared to $3.20/head the previous week.

View the full Sterling Pork Profit Tracker for the week ending March 28.

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.)

Pork Market Conditions Remain Steady

Tue, 24 Mar 2026 15:11:23 GMT

Market conditions in the pork industry are generally steady with the previous week with farrow-to-finish margins hovering near $55/head (Sterling estimate is $55.53/head) and the Sterling’s estimate for packer margins averaging $3.33/head against $5/head the prior week.

The Pork Cutout averaged $99.28/cwt. and little changed from the previous week’s $99.86/cwt. Both producer and packer margins are near estimates from a year ago.

View the full Sterling Pork Profit Tracker for the week ending March 21.

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.)

Lean Carcass Value Continues to Strengthen

Tue, 17 Mar 2026 16:44:23 GMT

Lean carcass value continued to strengthen last week, further supporting farrow-to-finish margins. This is expected to continue going forward.

At the same time, unlike the second quarter of 2025, while I am not saying consumers are moving away from beef, the pork cutout during the second quarter of this year will be supported by consumers moving down the retail meat case and buying pork to “adjust” their food budget.

View the full Sterling Pork Profit Tracker for the week ending March 14.

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.)

null

Farrow-to-Finish Margins Lose Ground as Feed Costs Increase $3/head

Wed, 11 Mar 2026 13:53:02 GMT

Pork packer margins were slightly improved last week against a Pork Cutout Value of $989.62/cwt. and up about $1/cwt. from the prior week. The drop credit also moved higher to average $12.90/cwt. on a dressed weight equivalent compared to $12.38/cwt. every week for the previous seven weeks.

Farrow-to-finish margins lost some ground to average $53.25/head the feed cost for those hogs was $3/head higher than for hogs marketed the previous week.

View the full Sterling Pork Profit Tracker for the week ending March 7.

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.)

Farrow-to-Finish Margins Gain Strength

Wed, 04 Mar 2026 20:07:44 GMT

Farrow-to-finish margins continued to gain strength with the Lean Carcass Value averaging $91.33/cwt. last week against $89.04/cwt. a week earlier.

Sterling hog producer margin was at $56.21/head and $4/head higher than the prior week. A lower feed cost added further support. While the Pork Cutout value also gained last week to average $91.33/cw.t, it was not enough to maintain packer margins which fell to $1.53/head according to Sterling’s estimate from $3.50/head the prior week.

View the full Sterling Pork Profit Tracker for the week ending Feb. 28.

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.)

Farrow-to-Finish Margins Get a Boost Averaging $52/head

Wed, 25 Feb 2026 13:06:39 GMT

Pork packing-processing margins continued to weaken last week averaging $3.50/head and $2/head from the prior week.

The Pork Cutout gained about $1/cwt. from a week earlier to average $96.04/cwt. However, the W. Cornbelt Lean Carcass Value averaged $89.04 for the week against $87.26/cwt. the prior week giving farrow-to-finish margins a boost to average $52/head for the week and nearly $4/head higher than the previous week.

Capacity utilization in the plants averaged 95% last week.

View the full Sterling Pork Profit Tracker for the week ending Feb. 21.

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.)

Farrow-to-Finish Margins Improve to $48.15/head

Wed, 18 Feb 2026 12:28:03 GMT

Farrow-to-finish producer margins continued to improve last week with Sterling’s average estimate at $48.15/head. For the same week one month ago, producer’s average margin was estimated by Sterling at $19.29/head.

Feed costs remain near $73.50 per head while the W. Cornbelt Lean Carcass Value averaged $87.26/cwt. last week and about $.50/cwt. higher than the prior week. Sterling’s estimated pork packer margins last week at $5.60/head, down about $1/head from the prior week with average Pork Cutout at $95.17/cwt. For the same week a month ago, packer margins were estimated at $26.65/head.

View the full Sterling Pork Profit Tracker for the week ending Feb. 14.

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.)

Pork Packer Margins Drop to $6.86

Wed, 11 Feb 2026 10:16:25 GMT

Pork packer margins dropped to $6.86/head from $9.64/head the prior week (Sterling) as the Lean Carcass Value was up $1/cwt. while the Pork Cutout Value at $95/cwt. was about unchanged from the prior week.

Farrow-to-finish margins gained on the higher Lean Carcass Value to average $46.75/head (Sterling) compared to $41.22/head the prior week.

View the full Sterling Pork Profit Tracker for the week ending Feb. 7.

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.)

Pork Profit Tracker: Farrow-to-Finish Margins Improve to $41/head

Wed, 04 Feb 2026 04:05:27 GMT

Farrow-to-finish margins improved substantially to average $41/head as estimated by Sterling and this compares to $33/head the prior week and $7.84/head a month ago.

Breakeven prices for hogs placed on the finishing floor last week averaged $64/cwt. against $67/cwt. for hogs marketed last week. Packers continue to see margins shrink according to Sterling estimates with last week at $9.64/head. Sterling showed the prior week’s packer margin at $14.10/head and $42/head a month ago.

View the full Sterling Pork Profit Tracker for the week ending Jan. 31

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.)

Farrow-to-Finish Margins Get Boost Improving to $32.98/head

Wed, 28 Jan 2026 16:41:02 GMT

A stronger W. Cornbelt Lean Carcass Value ($82.73/cwt. compared to $75.28/cwt. a week earlier) gave a boost to farrow-to-finish margins last week with Sterling’s estimate averaging $32.98/head for the week compared to $19.29/head the prior week.

The average Pork Cutout Value also gained last week ($94.90/cwt. against $92.68/cwt. the prior week) led a weaker packer margin with Sterling’s average for the week at $15.20/head against $26.65/head the prior week.

View the full Sterling Pork Profit Tracker for the week ending Jan. 24.

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.)

Stronger Lean Carcass Value Boosts Farrow-to-Finish Margin

Wed, 21 Jan 2026 16:53:14 GMT

Pork packer margins were off $5.41/head last week to average $26.42/head as the W. Cornbelt lean carcass value for the week gained $3/cwt. against the Pork Cutout value, which averaged $92.68/cwt. compared to $92.10/cwt. the previous week.

The stronger lean carcass value gave a boost to farrow-to-finish margins, which averaged $19.20/head for the week, a $7/head boost from the previous week. A drop in grain and meal prices pushed the breakeven price for hogs placed last week to $64/cwt. This was the lowest breakeven since hogs placed on the finishing floor the week of March 13, 2021.

View the full Sterling Pork Profit Tracker for the week ending Jan. 17.

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.)

Positive Pork Packer, Feeder and Producer Margins

Wed, 14 Jan 2026 15:38:36 GMT

On the pork side, margins for both packers and producers remained positive with some improvement for producers last week as the W. Cornbelt lean carcass value was stronger to average $72.26/cwt. for the week.

Sterling’s estimate for farrow-to-finish margins was $12/head compared to $8/head the previous week, but still well below returns of $20/head a year ago. Packers lost ground paying more for hogs while facing a weaker cutout value. The Pork Cutout averaged $92.10/cwt. against $94.60/cwt. the prior week. Plant utilization remains strong.

View the full Sterling Pork Profit Tracker for the week ending Jan. 10.

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.)

Pork Producer Profit Margins Continue to Gain

Thu, 08 Jan 2026 20:39:30 GMT

Hog producers saw some further gain in their margins last week as the W. Cornbelt lean carcass value averaged $70.12/cwt. compared to $68.75 the previous week leaving producer margins at $7.77/head against $4/head a week earlier.

The stronger lean carcass value coupled with a weaker cutout value ($94.60/cwt. compared to $96.62/cwt. a week earlier) left pork packers with a reduced margin last week. Sterling’s estimated average pork packer margins for the week were $41.34/head.

View the full Sterling Pork Profit Tracker for the week ending Jan. 3.

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.)

Pork Producer Profit Margins Continue to Weaken

Tue, 30 Dec 2025 16:04:04 GMT

The pork industry saw the same margin story as the beef industry in the Christmas holiday shortened week. Farrow-to-finish operations had an estimated margin for the week of $4.03/head according to Sterling, while packer margins at $49/head were also down from the prior week, albeit only $3/head.

The Pork Cutout last week averaged $96.62/cwt. compared to $98.62 the prior week. Producer margins over the past 6 weeks, though still in positive territory continue to weaken and averaged $4.03/head according to the Sterling calculation.

Even though the Dec. 1 Hogs and Pigs Report indicated a 1% year-over-year growth in total hog numbers, the breeding herd was down 1% from a year ago with the pigs per litter having the greatest impact on pig numbers.

Caution is still the watchword. Pork plant capacity utilization averaged 74.4% (1.9 million market hogs) and down sharply from the prior week estimate, which bumped at full capacity with the industry slaughtering 2.6 million market hogs.

View the full Sterling Pork Profit Tracker for the week ending Dec. 27.

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.)

Farrow-to-Finish Margins Continue to Decrease

Tue, 23 Dec 2025 16:08:43 GMT

The trend in pork industry margins continued last week with Sterling estimated farrow-to-finish margins averaging $6.85/head against $11.68/head the previous week.

Packer margins were estimated by Sterling to average $52.12/head compared to $46.26 a week earlier.

The Pork Cutout averaged $98.62/cwt. last week, a gain of nearly $1.25/cwt. from a week earlier while the W. Cornbelt Negotiated Lean Carcass Value averaged $69.31 for the week against $70.64/cwt. the prior week.

View the full Sterling Pork Profit Tracker for the week ending Dec. 20.

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.)

Pork Packer Margins Highest Since January 2024

Tue, 16 Dec 2025 19:11:12 GMT

Pork packer margins as estimated by Sterling averaged $45.94/head and the highest since the week ending January 27, 2024, following a stronger Pork Cutout which averaged $97.25 for the week compared to $94.55 a week earlier.

The W. Cornbelt Lean Carcass Value was down about $1/cwt. from the prior week to average $70.64/cwt.

Farrow-to-finish margins as estimated by Sterling continued to weaken averaging $11.63/head for the week. Packing plant capacity utilization remains strong.

View the full Sterling Pork Profit Tracker for the week ending Dec. 13.

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.)

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.)

Pork Profit Tracker: Farrow-to-Finish Margins Continue to Weaken

Thu, 13 Nov 2025 20:11:27 GMT

Farrow-to-finish margins continued to weaken last week with Sterling’s estimated average for week at $36.30/head. The W. Cornbelt lean carcass value averaged $84.64/cwt. and down from the prior week’s average of $85.72/cwt.

The Sterling estimate for feed costs for hogs placed on the finishing floor last week were estimated at $74.74 compared to $71.83 for hogs marketed last week. The Pork Cutout averaged $98.90/cwt. for the week compared to $100.71/cwt. the prior week with Sterling’s estimated packer margin averaging $19.52/head.

View the full Sterling Pork Profit Tracker for the week ending Nov. 8.

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.)

Pork Profit Tracker: Pork Margins Hold Steady

Thu, 14 Aug 2025 01:08:53 GMT

Margins across the pork industry remained unchanged from the previous week with packer margins averaging an estimated -$.81/head.

Farrow-to-finish margins were estimated to be $93/head with the Lean Carcass Value averaging $111.71/cwt. for the week. The Pork Cutout averaged $116.97/cwt.

View the full Sterling Pork Profit Tracker for the week ending August 9.

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.)

Pork Profit Tracker: Breakeven Prices Continue to Fall

Wed, 06 Aug 2025 15:43:35 GMT

The pork industry went through the week with little change from the prior week. The Lean Carcass Value averaged $111.93/cwt., which maintained farrow-to-finish margins at an estimated $94/head.

Breakeven prices continue to fall with falling grain and meal prices with the breakeven for hogs placed on the finishing floor last week estimated at $63/cwt. With the Pork Cutout averaging $116.22/cwt. and down $2/cwt. from the prior week, packers saw margins slip into the red -$2.72/head.

Plant capacity utilization hovered near 88% for the week and about unchanged from the prior week.

View the full Sterling Pork Profit Tracker for the week ending August 1.

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.)

Several Factors Drive Positive Hog Market, Ever.Ag Says

Fri, 06 Jun 2025 15:33:29 GMT

Several factors are driving the positive outlook in the hog market, according to Bill Polovin and Dave Delaney of Ever.Ag.

“The summer months have been fueled by what I’m going to call managed money,” Polovin says. “We’ve had some good fundamental strength, but I would say the futures are in front of that fundamental market right now.”

He notes August trading up over $107, a cut out market possibly north of $114, and a cash market that gets $108 to $109 weighted average.

“We’re starting to see the managed money assert themselves in a very positive manner for our futures market,” Polovin adds. “That’s obviously adding good possibilities for our producers.

Supply and Demand

Delaney says the supply and cash market look good, but the demand side needs to get better still. He sees supply remaining steady with not a lot of expansion or people exiting the industry, which he attributes to better health.

“I think the productivity that we see in these sows, we have not hit the peak in potential,” he says. “If we get a clear runway and a healthy industry, we could make a lot of pigs.”

On the demand side, Polovin points out seasonally, retail cuts slide back.

“We start to rely on the ham and belly primals to help fuel that cut out market. And I still think that’s ahead,” he adds.

Managing Risk

Polovin and Delaney suggest producers take advantage of a positive market and look at a variety of marketing strategies.

“You look at where those 2026 contracts are sitting right now, and they provide a very good opportunity,” Polovin says. “It would be probably a good idea for producers to start looking at locking in some of those $20-ahead-plus margins depending on their cost of production. That’s certainly the message that we’re trying to push out to the producer.”

They offer these suggestions for producers to hedge price risk:

1. Comprehensive Hedging Approach:

Use a “crush” strategy: buying grains and selling hogs
Implement a multitool hedging approach

2. Specific Hedging Tools:

Futures contracts
Options contracts
Livestock Risk Protection (LRP) insurance products
Over-the-Counter (OTC) products for potentially higher future sales
Utilizing contract strips for broader protection

3. Timing and Contract Considerations:

Look at 12-month forward contracts
Lock in profits when margins are favorable

4. Risk Management Principles:

Don’t get locked into a single strategy
Consult multiple sources and understand available products
Assess individual cost of production
Remain flexible and adaptable to market changes

To hear more of the conversation with Polovin and Delaney, listen to “AgriTalk.”

Your next read: China Has A Big Appetite for Pig’s Feet, Tails, Ears, Offal and Neck Bones But Tariffs Slow Trade