USA: 31 Week 2022 Pig Market Review

Pig futures returned to a 13.5-month high hit on Wednesday. August lean hog futures on the CME rose 0.175 cents to 120.825 cents a pound, while the most active October contract added 0.8 cents to 98.4 cents. The month ahead hog contract hit its highest level since June 2021 on Wednesday, peaking at 120.95 cents.

The US Department of Agriculture reported that the cost of pork carcasses on Friday morning was $124.49 per centner, which is 31 cents lower than on Thursday afternoon.

According to data released by the USDA and compiled by USMEF, U.S. pork exports in June remained below a large year-earlier figure.

Pork exports in June reached 219,131 tons, which is 8% less than a year ago, and amounted to $649.9 million (7% decrease). Exports in the first half of the year were 18% lower than last year, and amounted to 1.29 million tons worth $3.62 billion (a decrease of 16%).

“The decline in pork exports in the first half of the year was not unexpected, given the recovery in domestic production in CHINA and reduced demand for imports,” said USMEF President and CEO Dan Halstrom. “The good news is that the price of pork in China has risen by about 40% since mid-June, and we are seeing some recovery in demand for pork in China. At the same time, pork supplies to Mexico are still at a record pace, and demand has also increased in recent months in markets such as Korea, Colombia and the Caribbean. In these key areas, the success of American Pork in the processing and retail sectors is complemented by stronger sales in the foodservice sector.”

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

114.00-136.00

124.43

-2.76

6019

84.47-97.00

95.94

-

1312

Iowa/Minnesota LM_HG206:

- weighted average. price

130.52 (-0.24)

There is no data

Western Corn Belt LM_HG212:

- weighted average. price

130.19 (-0.10)

There is no data

Eastern Corn Belt LM_HG210:

- weighted average. price

122.99 (-0.10)

There is no data

WEEKLY WEIGHTED AVERAGE PRICE FOR PIGS

Weekly approximate volume of slaughter of pigs, thousand heads

PORK PRODUCTION