FoodService Edition Sharp correction in pork belly prices pressures cutout/hog prices lower. Despite an increase in production, prices for other primals remain above year-ago levels. Cash hog prices have come under significant pressure in the last couple of weeks due to a combination of seasonally higher hog numbers and a changing retail picture for pork bellies.
FoodService Edition Hog futures remain particularly volatile on weak cash hog and pork cutout value. Belly prices down sharply as retail prices catch up with record wholesale values in July. Hog futures started last week on a very firm footing as market expectations were buoyed by reports of lower than expected pork production and very […]
FoodService Edition Exports of fresh/frozen and cooked pork in June were higher than a year ago, with Mexico demand offsetting the y/y decline in shipments to China. Despite higher pork prices in June, overall exports continued to advance. The rate of growth has predictably slowed down but we expect overall exports to continue to expand for the remainder of the year.
FoodService Edition Pork demand has been excellent this summer, with pork production up 2% in June and pork cutout rising 10% from the previous year. Hog production has been rising consistently in the last few months although the pork supply increase has been slower than slaughter growth due to lower carcass weights. June hog slaughter […]
FoodService Edition Pork Exports up 10% in May and up 13% in the first five months of 2017 on robust demand from Mexico and Asian markets While overall red meat and poultry exports were higher in May, pork exports were particularly strong, driven by robust demand in Mexico and Asian markets.
Foodservice Edition Seasonally lower supplies and robust pork demand continue to support pork prices in the short term. A number of factors continue to support hog prices in the near term, helping propel cash hog values to the highest price for the year. While it is not unusual for hog prices to be higher in […]
FoodService Edition Summer pork demand improves, in part due to higher prices for competing meats. June pork supplies should be at the lowest point of the year. The pork cutout continues to track higher thanks to robust prices for bellies as well as escalating values for both fat and lean pork trimmings. In the past, […]
FoodService Edition Cold Storage Update The latest USDA ‘Cold Storage’ report contained some positive implications for red meat demand in April. Output during the month increased significantly and yet supplies in cold storage at the end of the largely increased in line with the normal seasonal rather than showing a significant buildup. For poultry, the […]
FoodService Edition Seasonal Improvement Underway in the Pork Complex. Higher Beef Prices Further Stimulate Pork Demand In our last update two weeks ago we outlined the expected seasonal improvement for hog and pork prices and, as if on cue, prices have appreciated rapidly in the last two weeks. The calculated 1‐day cash hog index stood […]
FoodService Edition Hog prices ready for their spring rally but large supplies on the ground will help keep prices in check. It is no surprise that hog prices move higher into the summer. Hog slaughter seasonally declines and better demand for grilling items tends to support cutout values. So far these spring hog prices have […]