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
Live hog and futures prices have surged in recent weeks. The National Base Hog Carcass was $95.43, an increase of 2% over the previous week. The pork cutout value averaged $107.82 last week and was $111.51 on Friday. This comes after weeks of failing to push through the $100 level of resistance. As expected, harvest totals were higher than the previous week. USDA estimated 2.363 million head were harvested, 220,000 more on the week but 53,000 fewer than last year.
New strains of PRRS are limiting hog supply and are a challenge for pig farmers. Pork exports totaled 237,250 metric tons in April, a decrease of 15% from a year ago and the lowest in 10 months. Export value fell 13%. Exports to China, which are mainly pork variety meats, declined 35% from a year ago. Shipments were also lower year-over-year to leading-market Mexico and to Japan and Canada. April pork exports equated to $62.50 per head, 14% lower than April 2024.
Lamb
The lamb market was lower last week with 50– to 90-pound lambs $10-$20/cwt lower and 90- to 130-pound lambs $30-$40/cwt lower. Wholesale prices were higher with the lamb cutout value at $461.01 last Friday. An estimated 38,000 sheep and lambs were harvested last week, 6,000 more than the week before and 2,000 more than last year.
April exports of U.S. lamb muscle cuts were 49% higher than a year ago, while value increased 15%. Growth was driven by shipments to Mexico, which increased 97%. Shipments to Mexico have been above 100 metric tons four consecutive months for the first time since 2017.
