USA: Pork market review for week 28 of 2023
Photo is illustrative in nature. From open sources.
Pork carcass prices rose $4.65 in Friday's update to $115.55. The USDA estimated hog slaughter for the week through Saturday at 2.34 million HEAD. This is 85 thousand more head than in the same week last year, and slaughter since the beginning of the year exceeds last year’s figure by 1.2%.
“Pork belly prices have risen sharply over the past few weeks,” said Sterling Smith, DIRECTOR of agricultural research at AgriSompo North America. “I think that caused some nervousness (on Thursday) and affected the market a little bit.”
Pork imports remained lower than a year ago, by 26%. Pork exports rose 12% to 618 million pounds, making it the largest since May 2021. The US saw strong growth in Mexico (+18%) and SOUTH KOREA (+25%), two of the largest US markets. CHINA added 7% compared to last year, while Japan and Hong Kong decreased purchases by 3-4% each. Domestic pork supplies are expected to decline in the second half of the year, which should encourage additional production. Pork exports are projected to increase 10% annually, close to the 10% annual growth rate.
You can learn more about the state of the pig market in the usa, as well as about prices for pigs and pork in the American (and not only) market in the weekly reviews of the MEAT market in RUSSIA and in the world from Meatinfo.ru.
Weekly reviews are available free of charge as part of a subscription to monthly analytics of Russian meat markets.
Average price for pigs
Negotiated price
Price in slaughter weight
Price in live weight
On a national basis LM_HG203:
-price range ($)
- weighted average. price
-Change from the day before
-volume of sales
91.00-102.00
99.91
-1.63
6037
No data
Iowa/Minnesota LM_HG206:
- weighted average. price
No data
No data
Western Corn Belt LM_HG212:
- weighted average. price
100.91 (-1.01)
No data
Eastern Corn Belt LM_HG210:
- weighted average. price
No data
No data
WEEKLY WEIGHTED AVERAGE PRICE FOR PIGS
Weekly approximate volume of pig slaughter, thousand heads
PORK PRODUCTION
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