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.
Hog prices were even with or slightly higher than last year from January through May but are now well below last year’s levels. The pork cutout value was $2.47 lower last week to average $97.48. The cutout value peaked in late June last year at $120 but has not reached $105 this year. This summer’s high came the third week in July and was $104.11. The average retail price of pork in July was $4.89/pound, the lowest since March and below the 2025 yearly average of $4.95/pound. Beef’s retail prices are nearly twice that of pork. USDA is forecasting 2026 pork production at 27.876 billion pounds, up 1.1% from 2025 and 0.3% higher than 2024. Last week’s estimated harvest of 2.366 million was 32,000 more than the previous week and 52,000 fewer hogs than last year. July pork production was 1% higher than last year with hog harvest down slightly.
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