Market Outlook

See the latest Livestock, Dairy, and Poultry Outlook report.

Report Summary

Pork/Hogs: Third-quarter 2024 pork production is raised 25 million pounds to 6.8 billion pounds (in anticipation of slightly stronger slaughter numbers for the balance of the quarter), while fourth quarter production is lowered fractionally by 20 million pounds to 7.47 billion pounds (in anticipation of marginally lower average dressed weights). Second-half hog prices are unchanged from last month. Hog prices are expected to be weaker in 2025, due to lower prices of substitute animal proteins: beef and turkey, with static prices for broilers. Prices of live-equivalent 51–52 percent lean hogs are expected to average about $58 per cwt in 2025, 3.2 percent lower than forecast prices in 2024. The third-quarter 2024 pork export forecast is raised 60 million pounds to 1.7 billion pounds on strong July data. Exports in 2024 are expected to be about 7.2 billion pounds, 5.2 percent higher than in 2023.

Livestock, Dairy, and Poultry Outlook: September 2024 Feed Outlook: September 2024 Livestock, Dairy, and Poultry Outlook: August 2024 Feed Outlook: August 2024 Livestock, Dairy, and Poultry Outlook: July 2024

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Study Links Federally Declared Weather Disasters to Reductions in U.S. Pork Processing Demand Factors Key To Measuring Trade Impacts of Country of Origin Labeling African Swine Fever Shrinks Pork Production in China, Swells Demand for Imported Pork U.S. Beef and Pork Consumption Projected To Rebound Restrictions on Antibiotic Use for Production Purposes in U.S. Livestock Industries Likely To Have Small Effects on Prices and Quantities

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Livestock and Meat Domestic Data Livestock and Meat International Trade Data Meat Price Spreads Feed Grains Database Foreign Agricultural Trade of the United States (FATUS)

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Agricultural Baseline Animal Products Animal Policy & Regulatory Issues Corn and Other Feed Grains Commodity Outlook

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