US pork production forecast raised for Q3
According to the most recent Market Outlook report from the USDA’s Economic Research Service, third-quarter pork production has been raised to 6.5 billion pounds, just fractionally below a year ago, on expectations that ample supplies of slaughter-ready hogs for the balance of the quarter will combine with higher year-over-year average dressed weights to increase production.
Second-half 2022 pork exports are reduced 80 million pounds on demand weakness for US pork in Asia, aggravated by the appreciated value of the US dollar.
Total US pork exports for 2022 are forecast at 6.495 billion pounds, almost 8%U below export volumes last year.
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