Market Outlook

See the latest Livestock, Dairy, and Poultry Outlook report.

Report Summary

Pork/Hogs: Second-quarter pork production was adjusted upward by 40 million pounds to 6.730 billion pounds on expectations of higher average dressed weights and higher-than-expected ready-to-slaughter hogs from the December–February pig crop. Second-quarter hog prices were lowered $2 per hundredweight (cwt) to $66 per cwt, about 16 percent below prices a year ago. Third-quarter hog prices were lowered $3 to $68 per cwt. U.S. pork exports for 2024 were increased 100 million pounds to 7.362 billion pounds, about 8 percent higher than shipments in 2023, as Europe’s share in the world's pork export markets continues to diminish.