PORK TRENDS

Farmer's Report

Pork TRENDS - December 3, 2021

Pork market information is from the week ending November 26, 2021.

Last week, the USDA-estimated hog slaughter was reported at 1.898 MM hogs, considerably lower than the previous week due to observation of the Thanksgiving holiday and 3-4% lower than the same week last year.

LOINS

Both boneless and bone-in loins moved lower. Historically, loins move slightly lower, with some subtle choppiness, for the balance of the calendar year.

TENDERS

The pork tenderloin market increased marginally. The frequency of pork tenderloins in retails ads is up moderately. Historically, the tenderloin markets have a lower trajectory for the balance of the year.

BUTTS

The bone-in butt market traded flat. The frequency of bone-in butts in retail ads was slightly lower. Historically, the pork butt markets hold relatively steady to slightly lower through the balance of the year.

RIBS

The rib complex moved higher for both backribs and light spareribs. Historically, both the rib complexes hold relatively steady through December. Backribs and St. Louis-style spareribs remain at a premium to historical values, and should be considered volatile.

BELLIES/BACON

Downward momentum continued for the belly complex, but the rate of decline has moderated. Historically, the belly markets work lower through the balance of the year, with some choppiness along the way.

HAMS

The ham markets reversed lower. Historically, the ham markets ease briefly once demand for Thanksgiving fades, then reverse higher due to Christmas and New Year’s demand.

TRIMMINGS

Pork trimmings continued sharply lower. Historically, the trimming markets settle into their seasonal lows in Q4.

PICNICS

The picnic markets moved sharply lower. Historically, bone-in picnics are nearing the end of their seasonal run higher and preparing to turn lower between now and January. Boneless picnics are typically at or near their lows and begin to move higher after the new year commences.

The data contained in the Farmer’s Report is provided for informational purposes only, is not tailored to your specific purchasing needs, and is not intended as a substitute for any other publicly-available market data or information. The Farmer’s Report is compiled from the last-received market data provided by the United States Department of Agriculture (USDA) and/or other market sources, and is subject to change without notice. Nothing herein is the opinion of US Foods®. US Foods neither assumes any legal liability nor makes any warranty or guaranty, either express or implied, regarding the completeness, accuracy or usefulness of this information.