USA: Week 28 Pig Market Review 2022

Pigs futures fell on technical selling. August lean hog contracts fell 0.925 cents to 109.575 cents a pound after hitting a high since April 19 a day earlier.

The United States Department of Agriculture (USDA) said Thursday morning that pork EXPORT sales for the week ended July 7 fell to 18,300 tons from 31,200 tons.

Global pork production for 2022 is forecast at 110.7 million tonnes, almost unchanged from April, as an upward revision in China's production forecast offsets declines in the EU and Brazil. Production in CHINA is projected to increase by almost 2 percent to 51.8 million tons, but remain below pre-African swine fever levels. Production in the EU and Brazil is estimated to be 2 percent lower, at 22.6 million tonnes and 4.3 million tonnes, respectively, due to slower export opportunities weighing on prices.

The forecast for global pork exports for 2022 has been revised down by almost 10%, to 10.6 million tons. The decline is primarily driven by lower imports to China , which will fall 39 percent to nearly 2.2 million tons due to improved domestic supplies. Hong Kong's imports will also fall 21 percent to 275,000 tonnes as an increase in live pig imports from China will support local production. Demand is forecast to increase in other markets such as SOUTH KOREA, Mexico, Japan and the Philippines, but will not be able to offset the huge decline in China.

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

111.00-127.00

117.99

-1.46

5525

There is no data

Iowa/Minnesota LM_HG206:

- weighted average. price

124.43 (-0.47)

There is no data

Western Corn Belt LM_HG212:

- weighted average. price

124.76 (-0.20)

There is no data

Eastern Corn Belt LM_HG210:

- weighted average. price

There is no data

There is no data

WEEKLY WEIGHTED AVERAGE PRICE FOR PIGS

Weekly approximate volume of slaughter of pigs, thousand heads

PORK PRODUCTION