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Hog supplies expected to be higher y/y through spring and early summer, but supply risk is skewed to the downside considering cuts to the breeding herd and uncertainty about productivity growth going forward.
More than 345 attendees from around the nation gathered in Chicago on March 5-7, for the 2024 National Pork Industry Forum. This event is held jointly by NPB and National Pork Producers Council (NPPC) and gives producers, industry leaders and state associations the opportunity to discuss important issues in the industry.
The Paulson-Whitmore award winner is Anne Miller. Her journey in Montana’s agricultural landscape is a testament to resilience and leadership.
Dr. Paul Sundberg, synonymous with innovation and leadership in the pork industry, is honored with the 2024 Distinguished Service Award for his outstanding contributions.
Supply of pork in cold storage at the end of January was 10% lower than a year ago and like the tight inventory situation we experienced in 2021 and 2022.
Pork supply has recovered, with slaughter over 2.6M consistently in the last four weeks. Since December 1 slaughter is up by more than 3% y/y, double the rate of increase indicated by the inventory survey.
In the last four weeks hog slaughter is down 2.3% lower than a year ago, and that’s after a 2.7M week last week. Spot supply has been tight following holiday and winter weather disruptions and it will take some time for it to recover.
Jamie Burr, chief sustainability officer at NPB, reflects on the recent FAO reports and how U.S. pork is committed to producing sustainable products.
Looking ahead, NPB remains dedicated to growing strong relationships within the foodservice industry. NPB is actively engaged in efforts to build trust and add substantial value to foodservice distributors.
Short holiday weeks and winter storms across the Midwest have impacted processing and resulted in tight spot supplies. Slaughter in the last three weeks has been under 2.3M head/week, about 300k head less per week than in early December.
Across the U.S., numerous pork products are being showcased in convenience stores, driving demand for high-quality pork and encouraging consumers to purchase pork more frequently.
Hog slaughter continues to outpace estimates and, based on the latest ‘Hogs and Pigs’ survey results, slaughter should remain higher y/y through the spring and summer.
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