USA: Week 18 Pig Market Review 2021

As of May 10, 2021, the USDA reports that the average cost of pork products in the US market has fallen by $0.63. Over the past week, there was an increase in prices only for ribs (+$2.59) and a picnic (+$1.58).

 Lean hog futures on the CME declined for the second consecutive session, although they remain near recent highs. The most active June contracts on the CME fell 0.750 cents to 112.100 cents a pound, while delayed delivery contracts reached new all-time highs.

Pig slaughter has improved from last week with 483,000 pigs handled on Monday, but the figure is still weak.  

Last week, the price of slaughter pigs with 53-54% lean muscle mass increased from $103.0/100 lbs ($227.12/100 kg) to $106.5/100 lbs ($234.83/100 kg). Prices seem to be constantly rising amid limited supply and strong demand.

MEAT processors are really “hunting” for pigs, thereby pushing prices even higher. Forty-pound (~18 kg) fattening piglets in cash transactions last week averaged $99.70/head from $17.00/head a year ago. The high price of fattening pigs is indicative of empty pigsties, which one would very much like to fill, and high futures for slaughter pigs. Currently, both feedlot owners and meat processors are working hard to find pigs and fill empty areas or, in the case of meat processors, continue to operate at full capacity.

Average price for pigs

Negotiated price

Price in carcass weight

Price in live weight

National based LM_HG203:

-price range ($)

- weighted average. price

-Change from the day before

-volume of sales

105.77-125.00

112.22

-1.48

4695

86.25-90.90

88.54

-0.40

761

Weekly approximate volume of slaughter of pigs, thousand heads