PORK TRENDS

Farmer's Report

Pork TRENDS - December 2, 2022

Pork market information is from the week ending November 25, 2022.

The USDA reported a weekly hog harvest of 2.223 MM hogs last week. This level is roughly 15% lower than the previous week (due to the holiday), and roughly 1-2% lower than the same week last year.

LOINS

Boneless loins traded sideways, while bone-in loins traded higher. Supply continues to improve on a seasonal basis, and demand continues to weaken, according to analysts, who note that reduced production schedules around the holidays can lead to slightly lower supply.

TENDERS

The pork tenderloin market is down sharply. Supply is improving and seasonal demand is decreasing, according to analysts.

BUTTS

Bone-in pork butts reversed slightly higher. Improving supply is slightly outpacing demand, according to analysts.

RIBS

The rib categories were mixed, depending on variety. Backribs and St. Louis-style spareribs moved higher, while whole spareribs dropped lower. Supply is improving while demand is lower, according to analysts.

BELLIES/BACON

The pork belly markets continued lower. Improving supply is outpacing seasonal demand, according to analysts.

HAMS

The bone-in ham markets fell lower. Improving supply seems to be outpacing demand, according to analysts, who note that markets remain strong compared to previous years.

TRIMMINGS

Pork trimmings were mixed. 72% lean pork trimmings were up slightly, while 42% fat trimmings were down sharply. Supply is good and improving, but seasonal holiday demand is spotty, according to analysts.

PICNICS

Bone-in picnics moved slightly higher, while boneless picnics moved sharply lower. Strong seasonal demand remains supportive to the improving supply of bone-in picnics, while boneless picnic supply is improving and outpacing demand, according to analysts.

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.