Prepared and written by Jeff Swenson, DATCP Livestock and Meat Specialist. The Market Update draws information from several sources, including trade publications, radio broadcasts, agricultural news services, individuals involved in the industry as well as USDA NASS and AMS reports.
Hogs
Market momentum has carried into September in the pork sector. It is too early to say this is a sustained counter-seasonal move, but it is lending optimism to the market. Some say this could be the most profitable September on record. This all comes after hog farmers experience record losses in 2022 and 2023. Industry expectations for this week’s Quarterly Hogs and Pigs report is to show an increase in inventory. Numbers are growing as is expected this time of year. Last week’s estimated harvest of 2.593 million hogs was 85,000 more than the previous week and 76,000 more than the same week last year. This is the first time since the week ending July 11 that this year’s harvest was larger than 2024. Wholesale prices have been under some pressure. The pork cutout value averaged $112.27 last week, making it $2.32 lower. Feeder pigs were higher last week. Forty-pounders averaged $76.68 while early weaned pigs averaged $59.95.
