USA: Week 21 Pig Market Review 2023

29.05.2023

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Pigs futures closed on Friday with more than triple digit losses to new contract duration lows. The June contract ended the session down 2%, with a net weekly drop of $6.95. The June futures also has a loss of $15.62 for the month. The national average hog price was $75.69 on Friday, after falling $3.77. The CME Lean Hog Index stood at $80.80 on May 24 after rising another 13 cents.

Low hog prices and high production costs continue to make hog farming unprofitable, leading some analysts to speculate that producers will scale back operations.

The market will struggle to recover until consumer demand for American pork improves, FuturesOne commodities broker Matt Wiegand said.

According to the USDA , 2023 U.S. weekly pork export sales were 29,200 tons in the week ending May 18, down 8% from the previous week and down 29% from the previous four average . weeks.

You can learn more about the state of the US pig market, as well as the prices for pigs and pork on the American (and not only) market, in the weekly reviews of the meat market in Russia and in the world from Meatinfo.ru.

Weekly reviews are available free of charge as part of a subscription to the monthly analytics of the Russian meat markets.

Average price for pigs

Negotiated price

Price in carcass weight

Price in live weight

National based LM_HG203:

-price range ($)

- weighted average. price

-Change from the day before

-volume of sales

73.00-87.00

75.69