NAFB News Service
The National Pork Producers Council released its second quarter pork industry economic update that provides a look at the top pork industry issues, trends, and market conditions impacting farmers.
The report shows pork production increased 2.3 percent through the first quarter, with the USDA now projecting a 1.4 percent annual increase in pork production this year.
Retail, wholesale, and farm-level prices show a year-over-year decline.
Pork and variety meat exports gained momentum in the first quarter of 2023.
Pork producer returns for the remainder of this year will be influenced by various factors, including domestic and export pork demand and input prices.
“The U.S. is a worldwide leader in pork production, which is a significant contributor to the U.S. economy,” said Duane Stateler, NPPC Vice President. “Pork producers will continue navigating the economic challenges to ensure we raise safe, wholesome, and affordable food for communities here and around the world.”