Global Pork Quarterly Q4 2022: Producers Cautious as Global Uncertainties Rise

Demand uncertainties rise as consumers face mounting pressures. With inflation outpacing wage growth, lower real wages are expected to negatively impact protein consumption in Q4 2022 and 1H 2023.

Value-conscious consumers are already seeking out lower-value cuts, trading down from branded to private label alternatives at retail, and limiting foodservice purchases, adding further weakness to premium product markets. Holiday sales will test the market’s resilience and its ability to absorb premiums. Lower GDP growth expectations in 2023 will limit market needs, slow herd-rebuilding efforts, and impact...

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...