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
The pork cutout value was $1.15 lower last week, averaging $89.72. The WASDE report average price projections for market hogs in 2025 were raised $1 to $63 with a high of $70/cwt in the third quarter. Pork exports were 5% higher in November compared to a year ago, while export value increased 6%. The pork exports were 5% higher during the first 11 months of 2024 compared to 2023. Pork export value climbed to $72.20/ head in November, up 9% year-over-year. According to a National Hog Farmer article by Lee Schulz and Ezra Butcher, cash prices for 40-pound feeder pigs averaged $98.98/head during the first full week of January 2025. The weighted average price was 100% above the same week last year, or $49.42 per head higher. The article notes prices for 10- to 12-pound pigs usually reach seasonal highs in January or February. Forty-pound pigs reach a seasonal high in March or April. The article points to lower feeder pig sales volume driving the price.
Lamb
November exports of U.S. lamb were 13% higher compared to a year ago. Growth was led by larger shipments to Mexico. Through November, lamb exports increased 12% year-over-year to 2,428 mt with value 13% higher at just over $13 million. Last week’s estimated harvest of 35,000 head was 4,000 more than the previous week and 1,000 more than a year ago. The lamb cutout value was $1.46 lower last Friday at $457.20. Shorn lambs brought $150 -$170/cwt with some light lambs selling to $185/cwt.