June 20, 2013

Following a smaller than expected June hog slaughter and slightly lower average dressed weights, USDA revised its second-quarter pork production forecast to 5.52 billion pounds, about even with the second quarter of 2012.

For 2013, US commercial pork production is expected to total 23.4 billion pounds, about a percentage point higher than in 2012. The second-quarter average price of 51-52% lean live equivalent hogs is expected to be US$63 to US$64 per cwt, about 3% higher than a year ago. For 2013, hog prices are expected to average US$59 to US$61 per cwt, about 1% below the average annual price last year. Pork production in 2014 is forecast at 24 billion pounds, with prices averaging US$56 to US$60 per cwt.