PORK TRENDS

Farmer's Report

Pork TRENDS - January 22, 2021

Pork market information is from the week ending January 15, 2021.

Last week the USDA estimated hog slaughter was reported at 2.644 MM head, down 7% from the previous week, but 6% higher than the same weeek last year.

LOINS

The pork loin complex moved lower. Historically, January is not a strong demand period for loin products, which results in sideways-to-weaker trading.

TENDERS

The tenderloin market was marginally higher. The frequency of retail ads was down from the previous week. Historically, the pork tenderloin market is suppressed between November and February.

BUTTS

Bone-in pork butts moved lower. An increase of forward and export sales was reported. Last year at this time, pork butts moved lower through the month of January.

RIBS

The rib complex was mixed. Backribs moved lower and spareribs moved moderately higher. Historically, the backribs hold steady to slightly higher during January. Last year, spareribs moved slightly lower through January.

BELLIES/BACON

The belly markets were mixed. The belly composite moved lower and 9/13’s pushed higher. Historically, the belly markets ease from late January into mid-February.

HAMS

The ham markets continued moderately higher. Last year the bone-in ham markets moved higher through the third week of January.

TRIMMINGS

The trimming markets pushed higher. Historically, the 42% trimmings are at their bottom, but experienced some marginal lift in January last year. Last year, the 72% trimmings moved higher through the third week of January before easing.

PICNICS

The picnic markets were mixed. The bone-in picnics are holding steady after several weeks of sharp declines. Historically, boneless picnics trend steady to lower through early February.

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.