Pork prospects improve

The first quarter of 2024 has seen a slight rebound for the pork industry. 

Steve Meyer, chief livestock economist for Ever.Ag, says the price picture for hogs has improved recently…

“It’s better, but I won’t say it’s great by any stretch.”  He says, “Primarily with the reduction in cost of production, corn prices, bean meal prices have gone down to the tune of somewhere around $25 a head. That just comes right to the bottom line.”

He tells Brownfield demand improvements have also helped…

“We’ve had pretty robust hog demand, very robust wholesale pork demand.”  He says, “Exports have been good. Our first stab at 2024 profits back in December and it was negative 12 dollars for the year on my profit model. That model is now plus $5.”

While the economic situation has improved, Meyer says the higher prices may not be enough for some producers to fully recover.

Brownfield spoke with Meyer at the 2024 National Pork Forum in Chicago.

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