Strong Ham Prices Underpin Hog/Pork Prices in the Near Term

Slaughter is down almost 5% from 2019, exports to Mexico are record high, turkey prices are record high and cold storage inventory is down double digits. Expect ham prices to remain firm through the holidays this year.

Steiner and Company produces the Profit Maximizer report on behalf of National Pork Board based on information we believe is accurate and reliable. However neither NPB nor Steiner and Company warrants or guarantees the accuracy of or accepts any liability for the data, opinions or recommendations expressed.

Highlights
- Hog futures were sharply...

Pork Supply Growth to Remain Limited for Much of 2023

Hog breeding herd as of September 1 was estimated down from the previous quarter as well as 0.6% lower than a year ago. The pig crop through next Feb is expected to decline y/y, suggesting no supply growth through next summer.

Steiner and Company produces the Profit Maximizer report on behalf of National Pork Board based on information we believe is accurate and reliable. However neither NPB nor Steiner and Company warrants or guarantees the accuracy of or accepts any liability for the data, opinions or recommendations expressed...

Lean Hog Futures Surge Despite Sell-Off in Outside Markets Tuesday

U.S. stocks plummeted on Tuesday following the latest CPI data, which showed larger than anticipated inflation numbers despite declining gas prices. 

According to the U.S. Bureau of Labor Statistics, inflation rose 0.1 percent in August, contrary to expectations for a month-over-month decline in inflation from July to August after going unchanged in July. 

The BLS reported that annual inflation declined for a second consecutive month but remained historically high at 8.3 percent. The food index increased 11.4 percent over the last year. This was the largest 12-month increase since the period ending May 1979.

The Dow declined nearly 4% while the Nasdaq shaved off 5.2%. The S&P 500 fell 4.3%. Tuesday marked the worst day for the three indices since June 2020. Economists are concerned that the Federal Reserve will raise interest rates further to combat ongoing inflationary pressures...