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.
Pork
Pork exports reached 252,411 metric tons in October – 3% higher than a year ago. While value also climbed 3% to $710.4 million. Although shipments to leading market Mexico declined slightly, this was more than offset by growth in Japan, Central America, the Caribbean, Oceania, and the ASEAN region. Pork export value equated to $59.63 per head in October, down slightly from a year ago. The January-October average was $65.43, up 4%. Exports accounted for 27.6% of total October pork production and 23.8% of muscle cuts. Each are about one-half percentage point lower than a year ago. Cash hogs were lower last week, and the cutout value was 60 cents lower, averaging $90.33. Like beef, the cutout was higher late last week and Monday of this week. Harvest totals last week were estimated at 2.602 million. This is 319,000 greater than the prior week and 66,000 fewer than a year ago. Harvest totals continue to be less than year ago levels and live weights are lighter than this time last year, continuing to signal the hog supply is current.
Lamb
Fed lamb prices were steady to $130/cwt higher last week, according to USDA’s National Sheep Summary. The carcass cutout was $3.93 lower than the previous Friday at $464.95. The estimated weekly harvest of 39,000 sheep and lambs was 8.000 head greater than the previous week. It was equal to the same week last year. October exports of U.S. lamb totaled 185 metric tons, 2% higher than a year ago, though value fell about 8% to just over $1 million. Exports to the Caribbean trended higher in October, led by strong demand in the Bahamas, but shipments were lower to Mexico and Canada. January to October lamb exports were 12% above last year at 2,298 metric tons, while value climbed 14% to $12.1 million. Shorn lambs brought $150 -$166/cwt.
