USA: Pork market review for week 7 from February 19, 2024

The U.S. Department of Agriculture (USDA) reported that pork EXPORT sales for the current marketing year reached 71,855 metric tons in the week ended February 8, up 106% from the previous four-week average on the back of large purchases from Mexico and CHINA . Weekly sales in the current marketing year were the highest since 2019, according to government data.

Actual pork shipments last week totaled 75,912 metric tons, up 131% from the previous four-week average, USDA data shows. it was the largest weekly export total on record, excluding weeks when the USDA released consolidated multi-week data, according to Steiner Consulting Group.

Analysts wondered whether the lack of data from previous weeks could have improved the latest data because of the strong rise. “Despite this, the reality is that this was a big export week and therefore needs to be taken into account,” Steiner Consulting Group said.

The most active April futures on the CME rose 0.475 cents to 85 cents a pound, their highest price since hitting a four-month high on Jan. 30. The market also rose on Wednesday, with April contracts now up 13%.  

The USDA noted at its annual forecast forum that U.S. pork exports will increase about 4% in 2024 to 7.08 billion pounds. U.S. pork production in 2024 is projected to be 27.88 billion pounds, up about 2% from 2023.

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

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Average price for pigs

Negotiated price

Price in slaughter weight

Price in live weight

On a national basis LM_HG203:

-price range ($)

- weighted average. price

-Change from the day before

-volume of sales

62.00-71.50

69.45

+2.11

2988

No data

Iowa/Minnesota LM_HG206:

- weighted average. price

69.58 (+1.05)

No data

Western Corn Belt LM_HG212:

- weighted average. price

69.58 (+1.50)

No data

Eastern Corn Belt LM_HG210:

- weighted average. price

No data

No data

WEEKLY WEIGHTED AVERAGE PRICE FOR PIGS

Weekly approximate volume of pig slaughter, thousand heads

PORK PRODUCTION