Pork Trends 

Loins 

The loin complex weakened, as both the bone-in and boneless loin markets decreased. Seasonal demand is fair and relatively steady, and supply is good due to larger seasonal harvest levels, according to analysts. Historically, both loin markets are steady during March, although they can begin to pivot higher as warmer weather sparks grilling demand.

Tenders 

The pork tenderloin market continued slightly higher. Supply is good and demand is mostly steady, according to analysts. The USDA continues to report varying levels of promotional frequency in the retail space. Historically, the market has been somewhat inconsistent during March, as either seasonal declines persist or the market begins to pivot higher on the prospects of forward, warmer weather demand.

Butts 

The bone-in butt market decreased slightly. Supply remains cyclically strong and demand continues to be mostly supportive, according to analysts. The USDA has been reporting steady but varying levels of ad placement for butts. Historically, the butt markets have been somewhat choppy during March before demand becomes more consistent in April.

Ribs 

Backribs continued to climb while all varieties of spareribs decreased. Seasonal demand for fresh ribs remains fair-to-weak, but is being offset by forward demand, according to analysts. The recent correction in the whole sparerib markets brought them much closer to prior-year levels. Historically, both the backrib and sparerib markets climb higher into spring and summer, although spareribs are generally a bit more volatile.

Bellies/Bacon 

The belly market composite continued to edge higher, extending upon a slow and steady rally since December. The USDA reported a lower frequency of bacon promotion last week. Historically, the belly markets weaken in March.

Hams 

Following recent declines, heavy hams held steady while light hams edged slightly higher. Supply remains good and demand is steady but variable, according to analysts who note that last-minute demand for Easter could influence the markets. Historically, the ham markets remain rangebound over the next few months.

Trimmings 

Both the 42% fat and 72% lean trimmings continued to increase. Supply is good and demand is improving, according to analysts. Historically, the pork trimming markets are firm to higher into early April.

Picnics 

Bone-in picnics held steady while the boneless market continue to rise. The cyclical reset of bone-in picnics seems to have stabilized and they are now slowly edging higher in seasonal fashion, according to analysts. Historically, the bone-in picnic market ebbs and flows directionally higher throughout the calendar year. Meanwhile, the boneless picnic market is recovering from recent cooling, and it appears that it has begun to push seasonally higher.