Retail Edition Highlights: The total inventory of hogs and pigs on December 1, 2017 was estimated at 73.230 million hogs, 2.4% higher than a year ago
USDA survey pegged the hog breeding herd inventory at 6.179 million head, 1.1% above last year’s levels and now 7% higher than the cycle low in 2009
The increase in the breeding herd sets the stage for larger pig crops in Dec‐Feb (summer slaughter) and Mar‐May (fall slaughter).The supply of red meat and poultry in cold storage is higher than a year ago but the drawdown in stocks during November suggests demand remains in good shape
There were 505.0 million pounds of pork in cold storage at the end of last month, 2.7% less than a year ago and 5.7% less than the five year average
Retail Edition Highlights: Hog slaughter up 3.6% for the week and combined with higher weights pork production is running 4% above year ago levels. Increase in pork supplies continues to keep ham prices under pressure. Seasonally ham prices find a bottom at the end of December. Pork belly demand has increased sharply following a 20% […]
Retail Edition Pork cold storage inventories at year ago lev‐ els despite larger production in the last three months. The overall inventory of pork products in cold storage at the end of October was 597.3 million pounds, 0.3% lower than last year and 2.8% higher than the five year average. October pork inventories declined 3.4% […]
Retail Edition Outlook for 2018 Many end users are currently working on their budget plans for 2018 and we (Steiner) recently updated our outlook for all of next year and an early look at 2019. Some of our thoughts at this point differ from USDA, largely with regard to the amount of pork that will […]
Retail Edition Hog futures continue to rally on robust cash hog prices, expectations of continued strong demand Firm cash hog prices continue to underpin the lean hog futures contract. Cash hog prices gained 5% for the week and they are currently as much as 26% higher than a year ago (net price). Interestingly, the IA/MN […]
Retail Edition Hog prices trending higher but ample supplies expected to keep prices in check, offer opportunities to promote pork in 2018 Pork packers have been paying up for hogs in recent days and the turnaround in cash hog prices has bolstered both nearby and deferred futures contracts. The October contract closed on Friday at […]
Retail Edition Supply and price implications from the USDA September 1 ‘Hogs and Pigs’ report Lean hog futures rallied sharply following the report even though some key numbers were decidedly bearish and well above what analysts were expecting prior to the report. We don’t have a good answer as to why futures rallied on Friday […]
Retail Edition Pork export demand will be key for Q4 as hog supplies surpass record 2016 levels Pork export volumes were somewhat disappointing in July but the decline was understandable given the sharp increase in pork prices during the month. Global buyers likely recognized that the price increase in the US would be shortlived, with […]
Sharp correction in pork belly prices pressures cutout / hog prices to move lower. Despite and increase in production, prices for other primals remain above year ago levels.
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.