USDA revised its second-quarter pork production forecast to 5.52 billion pounds, about even with the second quarter of 2012. The revision follows from a smaller than expected June hog slaughter and slightly lower average dressed weights. For 2013, U.S. commercial pork production is expected to total 23.4 billion pounds, about a percentage point higher than in 2012. The second-quarter average price of 51-52 percent lean live equivalent hogs is expected to be $63-$64 per cwt, about 3 percent higher than a year ago. For 2013, hog prices are expected to average $59-$61 per cwt, about 1 percent below the average annual price last year. Pork production in 2014 is forecast at 24 billion pounds, with prices averaging $56-$60 per cwt.

Rachel Johnson