The latest US federally inspected hog slaughter for the shortened holiday week was reported at 2,293 thousand head : down 287.4 thousand head or -11.1% from the previous week. Compared to last years Thanksgiving week, kill levels were +3.2% and remain +0.9% over last year-to-date with 1 month left in the calendar year.
Weekly average barrow and gilt weights in the ISM reporting area for the week ending Nov 30th were reported at 289.1 lbs, up 0.6 of a pound or +0.2% from a week earlier but are -0.5% compared to year-ago levels. Hog weights in the region have now been lower for 5 consecutive weeks compared to last year. Year-to-date however, current hog weights are up +1.1% compared to the same weeks in 2023. The drop in weights towards the end of the year indicate marketings are current and there does not appear to be a back log of animals in the pipeline, which has been contributing to seasonally firm cash hog prices.
US pork production has been tracking roughly 1.5% above 2023 with expectations for these amounts to continue at year end. Volumes have not been considered burdensome as early 2024 projections were for pork availability to exceed 2%. The fact that pork volumes are below early estimate is positive to the complex.
