The lowest in a decade? 🗓️📉

🔮💸 The USDA has recently lowered its forecasts for pork production for 2023 by 0.4%. That means the current forecast for pork production this year is still an increase of 1% compared to 2022, but the forecast for the available domestic supply of pork per capita is a decrease of 2.9% from a year ago – and that will continue at almost the same level in 2024. These are the lowest in a decade!

🌐 As for the world, the biggest decline, by far, in the sow inventory has taken place in the EU, while productivity gains have been pronounced in countries like Brazil. To see all charts with prices and forecasts for the US and the globe, click here.