Summary
Pork/Hogs: Third-quarter pork production is raised to 6.5 billion pounds, just fractionally below a year ago, on expectations that ample supplies of slaughter-ready hogs for the balance of the quarter will combine with higher year-over-year average dressed weights to increase production. Second-half 2022 pork exports are reduced 80 million pounds on demand weakness for U.S. pork in Asia, aggravated by the appreciated value of the U.S. dollar. Total U.S. pork exports for 2022 are forecast at 6.495 billion pounds, almost 8 percent below export volumes last year.
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