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Hog slaughter was lower than the previous week but for the next 6-7 weeks slaughter should hover around 2.6 million head, helping bolster supply and pressure prices lower. Futures were lower earlier in the week, largely a knee-jerk reaction to the results of the September inventory survey. In the near term, however, wholesale pork prices have been more resilient than markets were expecting.
It's Pork Month so, no surprise, we're celebrating! What IS surprising to many people is how good pork is for you, for your family and for the planet.
Hog inventory report to be released 9/28 is expected to show breeding herd down 1.5% to 2% vs. year ago. The reduction may be offset by continued productivity gains but overall supply for next year is expected to be about the same as it was in 2023.
Hog slaughter last week was less than expected, in part because heat and big slaughter before Labor Day resulted in tight spot hog supply. Slaughter may remain below year ago levels next week but eventually it is expected to jump over 2.5m head later in the month and into October.
How pork producers can enhance their preparation and prevention strategies to combat foreign animal diseases.
Seth Mitchell makes his debut as the first future leader of the Pork Industry Immersion Program at NPB.
Belly prices collapsed late in the week, dropping almost 35% from the previous week. A big part of this was the big increase in slaughter but also higher prices at retail and seasonal decline in demand.
NPB is strategically reallocating Pork Checkoff funds into domestic and international market growth initiatives.
USDA currently forecasts per capita domestic supply of pork available down 2.9% from a year ago and at almost the same level in 2024. These are the lowest in a decade.
In loving memory of Kara Behlke Ungerman, NPB's Vice President of Nutrition, Health and Wellness Transformation. January 18, 1983 - August 4, 2023.
NPB has assembled a task force to bring more value to the pork loin to make it more competitive with other pork cuts and other proteins.
Wholesale pork prices continue to move higher as some buyers have been caught short. Much of the recent increase in price is due to higher belly prices but loin and ham prices have seen a notable seasonal increase.
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