Agricultural Economist Glenn Grimes delivered his annual state-of-the-pork-industry address to attendees of the pre-World Pork Expo seminar, Pork Academy, Wednesday. He says there are many good things to focus on in the pork industry today, including:

  • 2003 is looking to be the 12th-consecutive year of record pork exports.
  • Domestic demand is still strong, although it is down a bit from past years.
  • Sow and gilt slaughter is down.
  • The USDA breeding inventories are down.
  • Competing meat supplies are all down.
  • No negative kill-capacity issues are expected in the near future.

    Grimes also offered his 2002 slaughter and price projections, shown here:

Quarter
Slaughter
(million head)
Live-weight price
$/hundredweight
1st
24.62
$34.18
2nd
23.85
$39-$42
3rd
24.15
$38-$41
4th
26.20
$36-$39
Total
98.82
$37-$39

    Grimes also projected that if productivity growth is kept to 1 percent or less, 2004 and 2005 live-weight prices would both likely average more than $40 per hundredweight.