Global pork production forecast to fall to 115.1 million tonnes in 2025

Published Oct 23, 2024

Tridge summary

In October 2024, December pork futures reached a 5.5-month high despite a drop in CME spot prices, due to lower-than-expected production forecasts for fall and early winter. China's meat imports fell in September 2024, contributing to a projected 1% decline in global pork production in 2025, with decreases in China and the EU offset by increases in the US, Vietnam, and Brazil. US pork production is anticipated to rise by 2% in 2025, with exports increasing by 3% due to strong demand and competitive pricing. In August 2024, US pork exports grew by 6% year-over-year, with notable growth in the Western Hemisphere and record volumes in Malaysia and Colombia.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Pork futures for December 2024 delivery rose to a 5.5-month high in the third week of October 2024, although the CME spot pork price recorded a new low, falling 23 cents to $83.85 as of October 15, 2024. Experts said that pork production this fall and early winter will not be as large as initially expected, so the December 2024 futures price increased compared to the spot price, indicating that the spot price this year will not fall as sharply as the price movement in the past two years. China's meat imports remain weak In September 2024, China imported 541,000 tonnes of meat, down 24,000 tonnes (4.2%) from August 2024 and down 54,000 tonnes (9.1%) from September 2023. In the first nine months of the year, China imported 4.94 million tonnes of meat products, down 770,000 tonnes (13.5%) from the same period in 2023. Global pork production forecast for 2025 Global pork production in 2025 is forecast to decline by 1% to 115.1 million tonnes as production declines in China and the ...

Source: Vinanet