Swine producers are welcoming the return to profitable prices – largely due to increase exports to markets historically serviced by China and to China. The African Swine Fever continues to cut into China herd losses, creating a greater demand to fill production holes.
USDA estimated hog inventory in the US in June to be a record 75.52 million head, up 3.6-percent from the previous year. Despite exports slipping four-percent in the first five months of 2019, the value of pork exports reached $54.83 per head in May, the highest monthly average price in a year, the U.S. Meat Export Federation reported.
U.S. pork exports in May totaled 217,999 metric tons, up one-percent in value to $567.8 million, the highest monthly value total since April 2018.
Still there are trade uncertainties and rising feed costs.
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