February Live Hog Price Forecasts – 11/14/2022
This month USDA forecast the US domestic pork supply would increase 2% year over year in the First quarter of 2023. The accompanying table displays the forecast price range for February hogs based on alternative pork supply assumptions relative to USDA”s November projection. For example if supply matches USDA’ estimate the study would suggest a December/February price range of $76.6 to $94.2. On November 14 February Hogs closed at $89 per hundredweight.
| February Live Hogs ($/cwt.) December February | ||||
| Domestic Supply | High | Low | % Prev. Year | |
| 5592 | $103.4 | $87.7 | 98% | |
| 5648 | $101.1 | $85.0 | 99% | |
| 5705 | $98.8 | $82.2 | 100% | |
| 5763 | $96.5 | $79.5 | 101% | |
| 5821 | $94.2 | USDA November | $76.6 | 102% |
| 5879 | $91.8 | $73.8 | 103% | |
| 5938 | $89.5 | $71.0 | 104% | |
| 5997 | $87.1 | $68.1 | 105% | |
| 6057 | $84.7 | $65.2 | 106% | |
| Pork Domestic Supply Million Pounds January March | ||||
| Assumes GNP (non deflated) Increases at a rate of 6%/Annual | ||||