Pork’s Perfect Storm: Production is up, but prices are weaker

USDA is currently estimating pork production to be up 420 million pounds this year, which is a 1.5 percent increase over last year. The Chair of the Outlook Board says it is a different story when it comes to prices.

“Prices have been softer than expected, weaker than expected. We reduced our hog price forecast $0.75 per hundredweight, so it’s now at $65.75 per hundredweight, and year over year, that’s down $5.46 per hundredweight,” said Mark Jekanowski.

That brings this year’s estimates 7.5 percent below last year’s average.

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