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.
February pork exports were 1% higher than last year, totaling 242,511 metric tons. Export value also rose 1% to $678.8 million. Exports to Japan were 20% higher than a year ago. Mexico was again the leading buyer of U.S. pork, reaching 97,357 metric tons. Pork export value equated to $67.28 per head in February, 2% higher than a year ago. The January-February per-head average was up 4% to $64.55. Exports accounted for 30.7% of total February pork production and 26.7% for muscle cuts, each up slightly from a year ago. Cash hogs were about $1 lower last week, with the base carcass price reported at $87.99. The pork cutout value had been slowly working higher, averaging $97.11, before meeting headwinds early this week. Last week’s estimated harvest was 2.396 million head, 116,000 fewer than the previous week and 113,000 fewer than the same week last year. The Good Friday and Easter holidays limited production. Forty-pound feeder pigs were about steady with last week, averaging $126.47/head, while weaned pigs continue to drift lower, averaging $74.01 last week.
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