Discover the key trends and the latest data impacting the meat industry, so you can make informed and strategic decisions.

Notes: unless otherwise noted, comments correspond to the week ending November 8^th, 2024.

1. Week Summary:

This Week's Story

• Cutouts closed at $1.02, unchanged from the previous week and 14 cents higher than last year.
• Meat production under federal inspection totaled 556 million pounds, down 10 million pounds from the prior week but up six million from the same period in 2023.
• The weekly slaughter count was 2.6 million, down by 48,000 from last week but 27,000 higher than last year, with dressed weights steady at 214 pounds.
• Swine prices closed at $0.82, down one cent from last week and 14 cents above last year, while gross packer margins were estimated at $52 per head, marking a $12 decrease from last week and $5 lower than last year.  

Cutouts

The Cutout closed at $1.02, unchanged compared to the previous week and 14 cents higher than the same week last year (See chart).                                                                 

Meat Production

Meat production under federal inspection was 556 million pounds, 10 million pounds less compared to the previous week and six million pounds more than the same week in 2023 (See chart).

• The weekly kill was 2.6 million head, 48 thousand head lower compared to the prior week and 27 thousand head higher compared to the same week in 2023. 
• Dressed weights remained steady at 214 pounds per head.

Swine Prices

Prices of swine closed at $0.82, one cent lower than the previous week and 14 cents higher than the same week in 2023 (See chart).

Gross Packer Margins

Our estimate for Gross Packer Margins for the week was $52 per head, $12 lower than the previous week, and $5 lower than the same week in 2023.

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

Exports

The reported figure for the week ending 10/31/2024 was 77.2 million pounds, six million pounds higher than the prior week, and one million pounds lower than the same week in 2023.

* Exports data is only available in our Easy Analytics suite.

 

2. Looking Ahead:

Lean Hogs Futures for December 2024 contracts closed at $0.80. For February 2025 contracts the price closed at $0.85.

Our 8-week forecast puts the Cutout price at $1.05, three cents higher than the $1.02 for the current week (See chart).

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

3. Mark Your Calendar - Industry Events Coming Up:

EVENT	DATES	LOCATIONS
Banff Pork Seminar	January 7-9	Banff, Alberta, Canada
Iowa Pork Congress	January 22-23	Des Moines, Iowa, USA
IPPE 2025	January 28-30	Atlanta, Georgia, USA

You can find a more comprehensive list of industry events in our Events section.

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