Despite a growing hog herd, livestock economists are still bullish
about pork prices in the last half of the year.
Analyst Kevin Bost of Illinois says his price forecast is
based on what he calls “generous export projections”. “I’m talking about a 10 percent year over
year increase in total US pork exports in the second quarter,” he says. “And then a 31 percent increase from a year
ago pork exports in both the third and the fourth quarters.”
He says his export projections are based on two assumptions –
more demand from China and continued strength in wholesale demand.
“I am coming up with a CME Lean Hog Index that average about
$81 dollars in the second quarter,” he says.
“And $82 in the third quarter and $70 in the fourth quarter.”
Bost projects prices to peak in July around $90.
He made his remarks during the Quarterly Hogs and Pigs call
hosted by the National Pork Board on Thursday.
Continue reading Analyst see hog prices pushing higher at Brownfield Ag News.
