Global pork market outlook: Lfuturesean hog futures prices stabilize after sell-off
Frozen Pork Ham & Shoulder
Meat
Published Apr 24, 2021
Tridge summary
Lean hog futures prices have faced selling pressure recently from rising feed costs. The market is also on edge after another USDA update on weekly pork exports showed declining purchases, particularly to China.
Original content
Lean hog futures prices have faced selling pressure recently on rising feed costs. The market is also on edge after another USDA update on weekly pork exports showed declining purchases, particularly to China. On the positive side for lean hog futures, cash hog and fresh pork prices are on the rise this week. Weekly US hog slaughter rates are struggling to reach 2.5 million head and may fall below 2.4 million by the middle of next month. Pork production rates will trend similarly, and supplies in cold storage are down from recent years to provide a buffer for reduced numbers this summer. USDA Thursday reported weekly US pork net sales reductions of 22,100 metric tonnes (MT) reported for 2021 - a marketing-year low - were down noticeably from the previous week and from the prior four-week average. Increases were primarily for China (13,100 MT, including decreases of 1,700 MT), Japan (2,700 MT, including decreases of 100 MT), South Korea (1,500 MT, including decreases of 200 MT), ...
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