US Hog Market Review Week 27, July 8, 2024
Photo is illustrative in nature. From open sources.
Traders cited weak demand from CHINA , a major buyer of U.S. pork , where herds have been decimated and the economy continues to recover from the pandemic. “Hogs are in quite a bit of trouble,” said Rich Nelson, a strategist at Allendale. “It’s a weak EXPORT environment. China isn’t buying aggressively, and we’re concerned we won’t see them come back into the market.”
The U.S. hog supply as of June 1 was 74.486 million HEAD, up 935,000 head, or 1.3%, from a year earlier and 347,000 head higher than the median estimate before the report, according to the U.S. Department of Agriculture. The breeding herd fell 198,000 head, or 3.2%, to 6.008 million head, but the commercial hog supply increased 1.134 million head, or 1.7%, to 68.479 million head. The data imply that slaughter will be about 2% higher than a year earlier in the summer and then slightly more than 1% higher in the fourth quarter and early 2025.
You can learn more about the state of the pig market in the usa, as well as about the prices of pigs and pork on the American (and other) market in the weekly reviews of the MEAT market in RUSSIA and in the world from Meatinfo.ru.
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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 from the day before
-sales volume
83.00-93.00
89.45
-1.52
2459
No data
Iowa/Minnesota LM_HG206:
- weighted average price
89.43 (-1.92)
No data
Western Corn Belt LM_HG212:
- weighted average price
90.92 (-0.43)
No data
Eastern Corn Belt LM_HG210:
- weighted average price
No data
No data
WEEKLY WEIGHTED AVERAGE PRICE OF PIGS
Weekly approximate volume of pig slaughter, thousand heads
PORK PRODUCTION
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