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Pork Market Commentary for the Week Ending on April 20, 2024

Pork Market Commentary for the Week Ending on April 20, 2024

1. Week Summary

  • This week's story.

Prices of swine decreased 2 cents, while Cutout remained steady for this week. Production continued increasing by +0.19% vs prior week. Estimated Gross Packer Margins exhibited a decrease by $11.7 per head.

  • Cutouts.

The Cutout closed at $1.01, same value than previous week and 24 cents higher than same week last year (+31.17%). (See chart).

  • Meat production.

Meat production under federal inspection was 536 million pounds, +1 million pounds (+0.19%) vs prior week and +9 million pounds (+1.71%) vs the same week in 2023.

    • This week’s slaughter was 2.48 million, +2,000 (+0.08%) vs prior week and +59,922 (+2.47%) in 2023.
    • Dressed weights remained steady at 216 pounds per head, 1 pound higher (+0.47%) than previous week and 1 pound less (-0.46%) than the same week in 2023.

See chart.

  • Swine prices.

Prices of swine decreased to $0.89, 2 cents lower (-2.20%) vs prior week and 19 cents higher (+27.14%) vs the same week in 2023. (See chart).

  • Gross Packer Margins.

Our estimate for Gross Packer Margins for the week was $32.6 per head, -$11.7 (-26.41%) vs. prior week and +$5.4 (+19.85%) vs 2023. (See chart).

*Gross Packer Margin data is only available in our Advanced Analytics suite.

2. Looking ahead

  • Lean Hogs Futures for May 2024 contracts closed at $0.95. For June 2024 contracts the price closed at $1.03.  
  • Our 8-week forecast puts the Cutout price at $1.24, 23 cents higher than the $1.01 for the current week.

See chart. 

*Forecasts for specific meats cuts are only available in our Advanced Analytics suite.

3. Mark your calendar

Event Dates Location
Congreso Internacional de la Carne

April 25-26, 2024

 Guadalajara, Mexico 
National Restaurant Association Show May 18-21, 2024 Chicago, USA
EXPO PACK Mexico

June 4-7, 2024

 Mexico City, Mexico

*You can find a more comprehensive list of industry events in our Events section (https://emeat.io/dashboard/events).

For more details you may consult EMEAT's Weekly Commodity Recap.

Pork

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