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

Notes: unless otherwise noted, comments correspond to the week ending October 25^th, 2024.

1. Week Summary

This Week's Story

The cutout price closed at $0.98, up 3 cents from last week and 11 cents from the same time last year.

Meat production under federal inspection reached 552 million pounds, down 4 million pounds from the previous week and 3 million pounds from last year, with a weekly kill of 2.59 million head, 20,000 fewer than both last week and last year. Dressed weights remained steady at 213 pounds per head.

Swine prices closed at $0.77, a 1-cent increase from the prior week and a 5-cent increase from last year, while gross packer margins were estimated at $58 per head, $6.7 higher than the previous week and $11.3 higher than the same time last year.

Cutouts

The Cutout closed at $0.98, three cents higher compared to the previous week and 11 cents higher than the same week last year (See chart).

Meat Production

Meat production under federal inspection was 552 million pounds, four million pounds less compared to the previous week and three million pounds less than the same week in 2023 (See chart).

• The weekly kill was 2.59 million head, 20 thousand head lower compared to the prior week and 20 thousand head lower compared to the same week in 2023.
• Dressed weights remained steady at 213 pounds per head.

Swine Prices

Prices of swine closed at $0.77, one cent higher than the previous week and five cents higher than the same week in 2023 (See chart).

Gross Packer Margins

Our estimate for Gross Packer Margins for the week was $58 per head, $6.7 higher than the previous week, and $11.3 higher 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 10/11/2024 was 70.7 million pounds, 4.2 million pounds lower than the prior week, and 9.5 million pounds higher than the same week in 2023.

 

2. Looking Ahead

Lean Hogs Futures for December 2024 contracts closed at $0.80. For February 2025 contracts the price closed at $0.83.

Our 8-week forecast puts the Cutout price at $1.14, 16 cents higher than the $0.98 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	DATE	LOCATION
PACK EXPO International	November 3-6	Chicago, IL, USA
Gulfood Manufacturing	November 5-7	Sheikh Zayed Rd, Dubai, United Arab Emirates
Florida Restaurant Show	November 6-7	Orlando, FL, 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.