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Fresh Pork Prices Drift Lower as Ample Chicken Supply Offsets Pork/Beef Decline

Fresh pork prices continue to be pressured lower due to increased competition from chicken breasts at retail and seasonal decline in demand.

Highlights

  • Fresh pork prices continue to be pressured lower due to increased competition from chicken breasts at retail and seasonal decline in demand.
  • Market for processing items is mixed. Pork belly prices are rangebound on higher seasonal supply and ample freezer inventories. Expectations are for belly prices to be higher in Q1 as supply will seasonally decline and processors will start to build inventories for...

 

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Nov 8 8:17 AM, General News



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...

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Oct 11 9:12 AM, General News


Fresh Pork Prices Trend Lower and Bellies Fail to Catch Up

The highest hog slaughter since early January and the increase in supply pressured pork prices lower overall, with retail product seeing the biggest impact.

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 slaughter last week was the highest since early January and the increase in supply pressured pork...

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Sep 27 8:31 AM, General News


Pork Prices Drop, Offer Feature Opportunities for Post Labor Day Needs

Due to the seasonal increase in supply, a slowdown in export sales and inventory depletion, prices collapsed far more quickly than expected.

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
- While we expected pork prices to be lower in the fall, prices collapsed far more quickly than we thought...

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Aug 30 8:00 AM, General News


Pork Prices Remain Firm on Lower Y/Y Slaughter, Tight Spot Supplies

Highlights
- Tight hog supplies and shrinking margin forced packers to limit slaughter on Friday and Saturday. In the near term this will tend to keep pork prices elevated but eventually we think the seasonal increase in supply will catch up with the pork market.
- Expectations are for processing items (hams, bellies, trim) to move lower into September as hog slaughter should be about 200k head/week higher than currently. Cooler temperatures should also result in higher hog weights.
- Fresh pork prices are finding some near-term support given...

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Aug 19 9:46 AM, General News


Seasonal Supply Lows Pressuring Spot Market Prices

Supplies are in line with the projections from the latest hog inventory data. Market participants seem surprised by the seasonal shortfall. Hog and pork prices are firm in the near term.

- Hog slaughter was under 2.3 million head for the 5th consecutive week. While supplies are in line with the projections from the latest hog inventory data, nonetheless market participants seem surprised by the seasonal shortfall. Hog and pork prices are firm in the near term.
­ Lower than expected pork prices in May and June appear to have bought some demand in July and... 

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Aug 4 8:00 AM, General News


Pork Checkoff: Mixed Signals in the Market as Some Items Struggle, Others Trade Firm

The cure for high prices is high prices — lack of features and ample inventory cause prices to adjust and create future opportunities.

Highlights
• Following the record-breaking levels of a year ago, backribs are now at the lowest levels of the past five years. Prices may need to stay low for a bit longer to “buy” some demand from retail and foodservice. For operators, current prices present excellent feature opportunities.

• Pork prices were firm at the end of the week on seasonally lower slaughter as well...

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Jul 21 8:00 AM, General News


Higher Wages, Input Costs, Supply Chain Problems Affecting Pork Prices, Not 'Concentration'

In a report issued today, economists with Iowa State University, North Carolina State University and the National Pork Producers Council found that pork prices have risen because of strong demand for U.S. pork, higher input costs and labor shortages throughout the supply chain, not concentration in the meatpacking industry. The report’s authors, Iowa State’s Dermot Hayes, NC State’s Barry Goodwin and NPPC’s Holly Cook, also found that pork prices in the United States are still lower than in many other countries.

The pork packing industry is made...

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Jan 26 9:29 AM, General News


Wages, Input Costs & Supply Chain Problems Pushing Up Pork Prices, Not Profits

In a report issued today on retail pork prices economists with Iowa State University, North Carolina State University and the National Pork Producers Council found that pork prices, not industry profits, are rising. Prices are rising due to increased transportation costs, supply bottlenecks and delays and increased labor costs throughout the pork chain. Those factors, said Iowa State’s Dermot Hayes, NC State’s Barry Goodwin and NPPC’s Holly Cook, were either caused or exacerbated by the COVID-19 pandemic.

Other factors that have affected prices up and down the...

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Dec 22 8:04 AM, General News







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