USA: Week 24 Pig Market Review 2021

As of June 18, 2021, the USDA reports that the average cost of pork products in the US market has fallen by $4.18. Over the past week, there was an increase in prices only for ham (+$2.57).

American pig producers EXPORT more than $7 billion worth of pork annually. However, recent shipping delays to US international ports are hampering export growth. If the problem is not addressed soon, these disruptions could lead to serious headwinds for the export of pork and other agricultural products, National Pork Producers Council (NPPC) president Jen Sorenson said today before a transportation subcommittee.

Like other sectors of the US economy, pork is dependent on conventional shipowners to ship products overseas. The covid-19 pandemic has exacerbated shipping problems as the United States imported more consumer goods, causing ports to backlog, Sorenson explained. Delays at U.S. ports and delays in the arrival and loading/unloading of ships are due to numerous factors, including terminal congestion as well as limited opening hours. In addition, Asian carriers do not send back as many fully loaded containers.

“To make matters worse, carriers fail to accurately notify exporters of arrival/departure times and cargo loading times, and then impose financial penalties on exporters for “missing” those loading windows,” Sorenson said. Those financial penalties that are paid to the very carriers who cancel orders were considered unreasonable by the Federal Maritime Commission. “Ultimately, these additional costs are passed on to farmers along the supply chain.”

All U.S. ports are facing shipping delays, but the West Coast has been the hardest hit as it ships goods to Asia-Pacific countries. The Asia-Pacific region is one of the main markets for U.S. pork due to its cultural preference for pork and recent trade agreements with CHINA and Japan. “Delays in shipping to the Asia-Pacific region increase costs and position the United States as an unreliable trading partner. Left unaddressed, it could also negatively impact future trade agreements with Southeast Asian trading partners as we seek to improve market access for US pork,” she added.

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

113.00-137.00

122.62

+0.34

3961

94.00-99.50

95.03

There is no data

740

WEEKLY WEIGHTED AVERAGE PRICE FOR PIGS

Weekly approximate volume of slaughter of pigs, thousand heads

PORK PRODUCTION