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U.S. third quarter pork production may be lower than expected

USDA has lowered its third-quarter pork production forecast due to expected lower average dressed weights.

USDA's third-quarter pork production forecast is lowered to about 6.5 billion pounds, almost 1% lower than production in the same period a year ago. The change was made on expectations of continued lower average dressed weights.

Prices of live equivalent 51-52 percent lean hogs are expected to average $74 per cwt in the third quarter, almost 8% below prices in the third quarter of 2022. Hog prices for the fourth quarter of 2023 were raised to $63 per cwt, about 1% lower than in the same period of 2022.

Total 2023 commercial pork production is expected to be 27.3 billion pounds, 1% higher than 2022 production. Forecast quarterly hog prices average $62.13 per cwt for 2023, about 12.7% below average quarterly prices in 2022.

August 17, 2023/ USDA/ United States.
https://www.ers.usda.gov

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