Much of the strength due to strong demand for bacon, with the average retail price of sliced bacon up 23.1% in March.
If China is contracting their herd, then for first time in modern history all three major pork producing markets contracting the herd consecutively.
South Dakota reaches record high with an inventory of 2 million hogs and pigs.
Thus far in 2022 sow slaughter has been down roughly 7% from last year's level. Low sow slaughter implies a growing breeding herd.
Country’s hog production and pork production forecast to rise by 2% and 5%.
Higher beef and turkey production offset by lower pork and broiler production.
Farm Futures provides in-depth analysis of key impact areas for U.S. farmers as fight between Russia, Ukraine continues
Some food categories saw sharper increases than others.
Supply situation is bullish; report confirms no expansion in U.S. hog market.
USDA's pork production estimate for 2022 is up about 10 million pounds; year-over-year decline of about 14 million pounds.
