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Hog slaughter was near 2.7 million head last week as producers sought to schedule hogs that were backed up due to winter storms and holidays. Slaughter is expected to be lower this coming week, in part because some plants will be dark on Monday for MLK holiday.
A panel of economists answers pork producers’ questions about pork markets and the December USDA Hogs and Pigs Report.
USDA hog inventory survey suggests that hog slaughter will be down 2% y/y through May, but then increase about 1% to 1.5% for the summer months. The increase in the breeding herd and more pigs per litter should increase supplies in the second half of 2023.
$20 million grant available to Iowa, Minnesota and Missouri pork producers to advance climate-smart agriculture practices.
A message from Heather Hill, NPB board president — As we close out 2022, I am filled with optimism and confidence in the future of our industry.
Slaughter is at annual highs, while retail demand for fresh pork has yet to kick in. Ham prices have eased as Christmas orders have been filled.
Slaughter numbers should be near the highest levels for the year and will be at least 100k head/week lower in Jan/Feb. This should bolster prices for some fresh pork items, such as loins and butts.
Tight supply remains despite packers ramping up slaughter ahead of the upcoming holidays.
Real Pork is the industry’s trust and image brand — it's how we differentiate pork from alternatives. NPB has promoted Real Pork in three key areas this year.
Fresh pork prices continue to be pressured lower due to increased competition from chicken breasts at retail and seasonal decline in demand.
NPPC, NPB and state organizations launched the Pork Industry Leadership Development Program for early career development.
Slaughter is down almost 5% from 2019, exports to Mexico are record high, turkey prices are record high and cold storage inventory is down double digits. Expect ham prices to remain firm through the holidays this year.
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