USDA Outlook Report Dismal For Pork

March 25, 2008 — 

First-quarter U.S. pork production is expected to be 5.92 billion pounds, 9.6 percent above the same period last year, predicts the USDA in its March 2008: Livestock, Dairy and Poultry Outlook Report. Total commercial pork production in 2008 is expected to be 23.1 billion pounds, 5.4 percent above 2007.

First-quarter prices for live equivalent 51-52 percent live hogs are expected to range between $40 and $41 per hundredweight, 12 percent below the same period a year ago. As a result, many U.S. hog producers are operating at losses of around $30 per hog. To make matters worse, a continued buildup of cold stocks may signal a slowdown in pork demand.

Source: Pork Magazine