May 21, 2012

US retail pork prices increase by 6% for the first quarter of this year, compared to the same period for 2011, with prices concluding at US$3.49 per pound.

Record retail prices were partly a reflection of first quarter US exports, which rose 15.8% compared to a year ago. According to the USDA's Livestock, Dairy, Poultry and Aquaculture Outlook for May 2012, the strong exports constituted 23% of first quarter commercial pork production.

In the second quarter of 2012, the USDA expects commercial pork production to rise by 2.8% compared to the same period last year. Higher April-June pork production is calculated from over-year larger fall and winter pig crops and heavier estimated dressed weights.

A moderate increase in commercial pork production and pork exports is forecast for 2013. Next year, foreign demand for US pork products is also expected to play a pivotal role. Lower prices, along with continued global economic growth, is likely to support continued strong exports. Total US pork exports for 2013 are forecast at 5.4 billion pounds, about unchanged from this year.