News

Outlook Board predicts more pork

The monthly Livestock, Dairy and Poultry Outlook from USDA raises the 2014 pork production estimate to 22.8 billion pounds reflecting expected heavier dressed weights. Lower feed costs and ample barn space due to PEDv losses are given as the reasons dressed weights are expected to average 6 pounds more than a year ago at 213 pounds.

Second-quarter hog prices are expected to range between $84 and $85 while they should average $76 to $78 for the year. Retail pork prices are predicted to exceed $4 per pound in the second half of this year.

Pork imports have increased as the higher prices have made European pork competitive.  The report says exports have increased as well in anticipation of continued tight U.S. pork supplies.  “It also appears that some major buyers of U.S. pork—Japan, Mexico, Colombia, South Korea, and Taiwan—are now experiencing animal disease outbreaks, which could result in increased demand for U.S. pork products.”

 

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!