USA: Week 7 Pig Market Review 2022

Lean pork futures hit a six-month high. Pig futures on the Chicago Mercantile Exchange (CME) rose 6.4% on average on Friday, traders said, with the next-month contract reaching its highest level in six months, supported by the cash market.

April futures rose 7.2 cents to 109.4 cents a pound, hitting a new contract high and briefly above the upper end of the 20-day Bollinger range, REUTERS reported.

According to the United States Department of Agriculture (USDA), the number of pigs slaughtered has fallen to 2,507,000, down 9,000 from a week ago.

The USDA said Thursday morning that weekly pork EXPORT sales rose to 18,300 tons for the week ended Feb. 10.

Pig price forecasts have been upgraded for each quarter of 2022 due to lower-than-expected hog slaughter numbers at the beginning of the year and expectations of continued strong consumer demand for pork. Strong seasonal factors are expected to boost demand growth in the first quarter, leading to higher hog prices in the fourth quarter of this year. Quarterly pork export forecasts are lowered due to weaker-than-expected December trade data and expectations of a further recovery in CHINA 's pork sector . Total U.S. pork exports are expected to be 6.8 billion pounds in 2022, about 3 percent lower than last year's exports.

US pork exports reached 18,300 tons last week, up 1 percent from the previous week, but 46 percent below the previous 4-week average. The increase was primarily in Mexico (4,800 tons), SOUTH KOREA (3,400 tons), Japan (3,300 tons), CANADA (2,400 tons) and the Dominican Republic (1,600 tons).  

You can learn more about the state of the US pig market, as well as the prices for pigs and pork in the US 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

82.00-100.00

86.78

2821

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

There is no data

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