- Higher than expected pork production and seasonally weak retail features have pressured pork prices lower in recent weeks.
- Hog cutout has lost 10% since late February and it is now 11% lower than the five year average.
- Hog slaughter for the last four weeks has averaged 2.4 million head/week, 4.2% higher than a year ago.
- Retail pork features for the most recent week were down 18% vs. year ago and 20% lower than the five year average.
- Pork belly market is very heavy and participants indicate more bellies are going into storage.
- End of Easter demand pressuring ham prices lower.Please see the rest of the document for our detailed price summary as well as our forecasts for the next six months.