PORK TRENDS

Farmer's Report

Pork TRENDS - May 7, 2021

Pork market information is from the week ending April 30, 2021.

Last week, the USDA-estimated hog slaughter was reported at 2.454 MM hogs, marginally lower than the previous week.

LOINS

Markets in the loin complex were steady to higher. Boneless loins continued slightly higher and bone-in loins held flat. The frequency of retail ads was up for both boneless and bone-in loins last week. Historically, trade levels begin to move higher in May, as demand starts to increase for upcoming holidays such as Memorial Day.

TENDERS

The pork tenderloin market rebounded higher. Retail promotions eased. Historically, tenderloins begin to find their peak during the summer months, as demand increases for grilling season.

BUTTS

The bone-in butt market held flat. Retail feature activity remained strong, but was down slightly from the previous week. Historically, the pork butt market moves seasonally higher into May.

RIBS

The rib complex continued its upward momentum. Gains in the backrib market continued higher, while gains in spareribs were not as sharp as previous weeks. Historically, the rib complex is at its peak from May through late June.

BELLIES/BACON

The belly market moved lower. Historically, belly markets move higher as we head into summer.

HAMS

The ham markets continued higher. Solid volumes are still being reported by the USDA in both exports and forward sales. Historically, the ham markets move steady to slightly higher through May.

TRIMMINGS

The trimming markets were mixed. Lean 72% trimmings eased, while the fat 42% trimmings moved higher. Both trimming markets historically take a higher trajectory into summer, as they are heavily used as raw materials in the production of hot dogs and sausages.

PICNICS

Both the bone-in and boneless picnic markets held flat for the week. Historically, both items find steady to stronger gains as summer approaches.

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.