Market Outlook

See the latest Livestock, Dairy, and Poultry Outlook report.

Report Summary

Pork/Hogs: Processor spreads dropped in November as pork product prices declined more rapidly than hog product prices. It is notable, however, that both fourth-quarter hog prices and wholesale pork prices are expected to remain above year-earlier price levels due to fewer numbers of slaughter-ready hogs than anticipated, supporting wholesale pork prices thus far in the fourth quarter. Fourth-quarter hog prices are raised to $62 per cwt, almost 16 percent above prices a year ago, while pork production is lowered slightly to 7.24 billion pounds, still about 1 percent higher than fourth-quarter 2023 pork production. October pork exports were almost 2 percent higher than a year earlier, but weakness in shipments to Mexico weighed on the total October export volume. The fourth-quarter export forecast is lowered 35 million pounds to 1.875 billion pounds due to expectations of higher U.S. hog and pork prices for the balance of 2024.

Livestock, Dairy, and Poultry Outlook: December 2024 Feed Outlook: December 2024 Livestock, Dairy, and Poultry Outlook: November 2024 Feed Outlook: November 2024 Livestock, Dairy, and Poultry Outlook: October 2024

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Study Links Federally Declared Weather Disasters to Reductions in U.S. Pork Processing Demand Factors Key To Measuring Trade Impacts of Country of Origin Labeling African Swine Fever Shrinks Pork Production in China, Swells Demand for Imported Pork U.S. Beef and Pork Consumption Projected To Rebound Restrictions on Antibiotic Use for Production Purposes in U.S. Livestock Industries Likely To Have Small Effects on Prices and Quantities

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Livestock and Meat Domestic Data Livestock and Meat International Trade Data Meat Price Spreads Feed Grains Database Foreign Agricultural Trade of the United States (FATUS)

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Agricultural Baseline Animal Products Animal Policy & Regulatory Issues Corn and Other Feed Grains Commodity Outlook

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