USA: Week 22 Pig Market Review 2022

Pig futures on the Chicago Mercantile Exchange (CME) posted strong gains on Wednesday to maintain a short-term uptrend in prices on the daily charts. This suggests that the path of least resistance for prices will remain in an upward trend in the near future. The CME hog price index fell 24 cents on Wednesday (as of May 31) to $104.91, breaking nearly two weeks of gains. Strengthening fundamentals in the cash markets continues to support prices. Rising wholesale prices for pork encouraged buyers of futures. The cost of pork tenderloin is close to a six-week high. Initial wholesale activity after the holiday weekend indicated that Memorial Day MEAT sales were strong, though traders will keep a close eye on pork wholesale moves to see if demand continues.

The pork market came under pressure at the end of the week, with July's most active lean pork futures falling 1.425 cents to 110.750 cents a pound. According to the United States Department of Agriculture , the cost of a pork carcass in the US fell $2.64 to $109.38 per 100 pounds, while the cost of bacon fell $16.66 to $160.53 per 100 pounds.

With pork production this year down 4% from last year, it is surprising that pork prices have not improved. While weaker pork exports have been one of the reasons for the price decline, there are other factors at work that have pushed cash hog prices below last year's levels. Real disposable incomes of the population have been declining almost every month since August last year. So perhaps it shouldn't come as a surprise that demand is much lower than previously thought. But it certainly took its toll on the hog futures market, which has lost 22% over the past five weeks.

 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

104.00-117.50

112.09

-3.13

3480

83.50-90.35

88.54

1043

Iowa/Minnesota LM_HG206:

- weighted average. price

114.46 (-2.50)

There is no data

Western Corn Belt LM_HG212:

- weighted average. price

113.50 (-3.56)

There is no data

Eastern Corn Belt LM_HG210:

- weighted average. price

There is no data

There is no data

WEEKLY AVERAGE WEIGHTED PRICE FOR PIGSWeekly approximate volume of slaughter of pigs, thousand heads

PORK PRODUCTION