Inflation has cooled to 3.1%, though the prices of many consumer necessities like food and housing continue to increase more rapidly than the pre-pandemic average.USDA is now projecting a 1.4% increase in pork production this year, while domestic pork availability is expected to drop 2.5% to 49.8 pounds per capita for 2023. Hog slaughter and pork production increased an estimated 1.2% and 0.3% respectively through mid-July 2023.Prices have gained seasonal momentum over the past three months but remain below year-ago levels. So far this year, negotiated hog and pork cutout values, on average, have been about 20% below the same week last year.Average cost and breakeven levels are 9% higher than one year ago and have increased 60% over three years. Persistently high production costs continue to be a major challenge to pig farmers’ profitability.California Proposition 12 creates significant challenges and market uncertainty for pig farmers across the country and has far-reaching implications beyond the pork industry. ![]() Key takeaways from the Q3 update include: WASHINGTON, D.C., - The National Pork Producers Council (NPPC) released its third quarter pork industry economic update to provide a snapshot of top pork industry issues, current trends, and marketing conditions impacting U.S.
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