USA: Week 19 Pig Market Review 2022

Fears that inflation could remain high for longer than expected weighed on markets as higher prices could cut MEAT sales.

Wheat futures rose on the Chicago Mercantile Exchange due to lower-than-expected USDA production forecasts, which provided additional support to the corn market.

June hog contracts on the CME fell 3.375 cents to 97.475 cents a pound on Thursday, hitting their lowest price since January 13. July futures fell 3,700 cents to close at 97,850 cents a pound, falling to their lowest price since January 12.

The USDA said in its monthly report that hog prices are projected to be lower in 2023 amid increased production.

U.S. weekly pork EXPORT sales in 2022 were 6,300 tons, up 10% from the previous week and up 14% from the previous four weeks' average, according to the USDA. U.S. pork exports have struggled this year amid declining demand from CHINA , the world's largest meat consumer.

Unlike beef, whose production forecast has been revised upward by the USDA, the pork production forecast for 2022 has been constantly revised downward. Pork production for 2022 is now projected at 27.054 billion pounds, down 2.3% from a year ago. At the beginning of the year, pork production was forecast to decline by only 0.6%. Interestingly, the USDA is forecasting that production will recover in 2023. The first forecast, released yesterday, puts pork production next year at 27.380 million pounds, up 1.2% from 2022.

The USDA notes that experts expect increased hog productivity, which will help increase stocks even if breeding stock is not

increase significantly. The USDA sees pork exports down 1.1%, while imports are projected to rise 2.3%. As a result, per capita pork consumption is expected to rise by 2% next year.

. You can learn more about the state of the US pig market, as well as the prices for pigs and pork on the American (and not only) market, in the weekly reviews of the meat market in RUSSIA and in the world from Meatinfo.ru.

Weekly reviews are available free of charge as part of a subscription to the monthly analytics of the Russian meat markets.

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

98.00-108.00

101.47

-4.89

2867

There is no data

Iowa/Minnesota LM_HG206:

- weighted average. price

There is no data

There is no data

Western Corn Belt LM_HG212:

- weighted average. price

103.35 (-9.40)

There is no data

Eastern Corn Belt LM_HG210:

- weighted average. price

There is no data

There is no data

WEEKLY WEIGHTED AVERAGE PRICE FOR PIGS

Weekly approximate volume of slaughter of pigs, thousand heads

PORK PRODUCTION