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Dr. Steve Meyer, Lead Economist, Partners for Production Agriculture and Dr. Lee Schulz, Associate Professor, Iowa State University provided an economic outlook for the pork industry during the Pork Academy Sessions at the World Pork Expo.
Economists shared their insights and analysis of the USDA Quarterly Hogs and Pigs Report during a webinar hosted by the Pork Checkoff.
Prop 12 speculation has skewed the market for the last few weeks, initially as fear caused some inventory dumping and then inventory building based on guidance that anything produced before June 30 would be allowed into California through the end of the year.
The National Pork Board partners with five universities to establish The Real Pork Trust Consortium to address consumers' questions relating to the pork industry.
The National Retail Benchmarking study aims to improve the position of pork in the market by focusing on the quality and consistency of pork, as well as various meat case metrics.
Hog slaughter has declined from 2.45 million head/week in early May to nearly 2.3m hogs currently. Additionally, hog weights have declined at a faster rate than normal, further reducing spot availability.
Meet the newly elected officers of the National Pork Board representing and serving U.S. pig farmers
Dr. David Newman to lead efforts to grow domestic and international demand for U.S. pork.
• Missouri pig farmer and former Pork Board president to lead team of 16
• Newman has had active roles in numerous Pork Checkoff priorities since 2016
The market remains highly uncertain. Bellies have been and continue to be a major drag for the wholesale index, accounting for about half of the decline in wholesale prices. With large inventories and expected lower California demand, the price upside risk for bellies is lower than in previous years.
Heat stress poses a significant challenge for pigs and the people taking care of them. By taking the necessary precautions both inside the barn and during transportation, we can effectively mitigate the risks associated with heat stress.
Prop 12 has end users in California depleting inventories of product that will not be compliant by July 2. This is having a negative impact on spot pricing.
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