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 sector saw another week of mostly steady prices. Cash hogs were 35 cents lower with the cutout value 18 cents lower to average $95.08. The average retail price of pork was $4.62 in August, slightly lower than this time last year. The estimated harvest last week was 2.584 million hogs, 2,000 fewer than the previous week and 24,000 fewer than a year ago. August pork exports totaled 238,989 metric tons, 6% higher than a year ago but the second lowest of 2024. Export value increased 8%. Mexico was the largest customer for U.S. pork in August. United State Meat Export Federation (USMEF) President and CEO Dan Halstrom noted that demand throughout the Western Hemisphere was outstanding. Pork export value equated to $64.46 per head harvested in August, up 10% from a year ago. Exports accounted for 29% of total August pork production. Much of the pork exported is variety meat or cuts underutilized by U.S. consumers.
Lamb
Cash lamb prices continued their downward trend with the market $20/cwt lower last week. The lamb carcass cutout value was $468.73 last Friday compared to $472.21 the previous week. The harvest estimate for last week was $37,000 sheep and lambs, 1,000 head more than the previous week and 2,000 more than last year. Exports of U.S. lamb reached 288 metric tons in August, 170% higher than last year’s low volume. Export value was 70% higher at $1.16 million. These results drove January-August exports 20% above last year’s pace in volume. Shorn lambs brought $145-$160/cwt.
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