Pork prices in the US market recover

Published Dec 28, 2021

Tridge summary

The USDA Pork Market Report for December 23, 2021, reveals a decrease in the US hog population by 2.9% from the previous year, with a projected increase in breeding pigs and a decrease in pigs kept for trading. US pork net export sales for 2021 are forecasted at 28,800 tonnes, with a decrease in shipments to several countries, including China. Pork prices are increasing due to rising transport costs, supply congestion, and labor costs, leading to an anticipated food inflation of 3-4% in 2021. In 2022, consumer prices are expected to see a slight increase, with food prices projected to increase by 2-3%. Meat, poultry, and fish prices are anticipated to rise by 2 to 3 percent in 2022, following an increase in demand and factors such as labor shortages and high feed costs.

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

Original content

According to the USDA Pork Market Report dated December 23, 2021, the number of US hogs is expected to decrease. According to a Reuters survey, the total number of pigs in the US as of December 1, 2021 reached 74.594 million heads, down 2.9% from the same time last year. The number of breeding pigs is expected to increase by 0.1%. The number of pigs kept for trading is expected to decrease by 3.1%. US pork net export sales in 2021 are forecast at 28,800 tonnes, down 8% from last week's forecast, but up 5% from the previous four-week average; in which increased mainly to the Mexican market (14,000 tons, down 700 tons compared to the previous week's forecast), Korea (7,100 tons, down 600 tons), Japan (3,800 tons, down 2,300 tons), Canada (1,600 tons), tons, down 400 tons) ) and Nicaragua (900 tons) and decreased in China (300 tons), Australia (200 tons) and Chile (100 tons). Net sales in 2022 reached 7,000 tons, of which increased mainly in Japan (2,800 tons), Mexico (1,600 tons), ...

Source: Vinanet