US Hog Market Review for Week 11, March 18, 2024

The cash market continues to improve, with indices rising. Spring is approaching , which typically leads to a reduction in supply, and grilling season is also approaching. With beef prices rising, pork has a chance to win over consumers, as despite the recent rise, it is still significantly cheaper than beef .  

Hog slaughter through Friday was 444,000 HEAD, up from 442,000 last week and down from 465,521 last year. Estimated slaughter for the week is 2,479,000 head, up from 2,456,000 last week and down from 2,491,920 last year.

The United States exported 587.8 million pounds of pork in January. While this was 56.1 million pounds (8.7%) lower than December, which was the highest monthly total since May 2021, pork shipments increased by 32.0 million pounds (5.8%) compared to January 2023. The USDA raised its 2024 pork EXPORT forecast and now expects a 4.8% increase to 7.13 billion pounds.

For more information on the state of the US hog market, as well as on hog and pork prices in the US (and elsewhere), see Meatinfo.ru's weekly MEAT market reviews in RUSSIA and around the world.

Weekly reviews are available with a subscription.

Average price of pigs

Negotiable price

Price in slaughter weight

Price in live weight

On a national basis LM_HG203:

-price range ($)

- weighted average price

-Change compared to the previous day

-sales volume

73.00-83.25

79.94

0.24

3035

49.50-63.95

58.27

-0.98

1402

Iowa/Minnesota LM_HG206:

- weighted average price

80.70 (+0.93)

No data

Western Corn Belt LM_HG212:

- weighted average price

80.32 (+0.61)

No data

Eastern Corn Belt LM_HG210:

- weighted average price

No data

57.39 (-1.86)

WEEKLY WEIGHTED AVERAGE PRICE OF PIGS

Weekly estimated pig slaughter volume, thousand heads

PORK PRODUCTION