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Less optimism for hog prices in 2024

A livestock economist says there’s some uncertainty for pork producers in 2024.

University of Missouri’s Scott Brown says he’s expecting some volatility in the cash hog market. “I think we look back in the rearview mirror and do a good job of reminding everyone that 2021 and 2022 were both really good demand years. And as we lost a little bit of that strong demand, we had lower hog prices in 2023.”

When it comes to pork production, Brown says, “Won’t be all that much different than what we saw in 2023, given productivity gains that we saw out of the last hogs and pigs report. We’ve now got three quarters of data that suggests we’re growing pigs per litter pretty rapidly.”

He tells Brownfield producers need some relief from higher feed costs. “Good crops ought to keep putting pressure on corn prices to go lower.”

Brown spoke during Brownfield’s latest Weekly Livestock Market Update.