Hog farmers made a record profit of nearly $70 a hog this spring and are on track for much larger profits this summer, says economist Chris Hurt of Purdue University at farmdoc daily. He says “third quarter profits are expected to be over $100 per head due to continued high market prices and declining feed costs. Hog farmers have been slow to expand their herds, so the the supply of slaughter hogs remains tight.
“No relief for consumers is expected this summer as retail pork prices keep moving up to new records. Retail pork prices are expected to level off in the fall and then move somewhat lower into the winter. More relief from record high retail pork prices can be expected in the second-half of 2015 as pork supplies build,” said Hurt.