Hog Price Projections
Lorrie Boyer
Reporter
That is USA World Agricultural Outlook Board Chairman, Mark Jakanowski. Speaking to U.S. pork production levels for next year, while US pork output is expected to remain about the same as last year at 28.5 billion pounds, and that is reflecting expectations of continued strength or growth in pigs per litre. More than offsetting the possibility of lower farrowings."
Which could equate to a drop in hog prices this year.
"Hog prices 2024, we pulled back 50 cents per hundredweight this month, currently at $62.49 per hundredweight, still waiting to see that grilling demand strengthen, but also we're we've seen some reduced export demand as well with the strong dollar and then going into 2025. We expect lower hog prices currently forecast at $60.00 (six-zero) $60 per hundredweight. That would be down $2.49 year-over-year."
Once again, that is Mark Jakanowski, he is the World Agricultural Outlook Board Chairman with USDA