Pork Industry Profitability: How to Set Yourself Up for Success

Robust exports. A return to profitability? Lower feed costs. Near-record U.S. pork production? The factors affecting the pork outlook are numerous and worthy of a deeper dive with the experts. Farm Journal’s PORK asked five economists to share their thoughts on what’s ahead for the second half of the year.  Scott Brown, economist at University of Missouri Erin Borror, vice president of economic analysis at U.S. Meat Export Federation Christine McCracken, executive director, animal protein at Rabobank Altin Kalo, head economist at Steiner Consulting Group Lee Schulz, economist at Iowa State University Q. WHAT’S YOUR PORK OUTLOOK FOR 2024? EB: I expect record exports with the U.S. to overtake the combined EU-27 to be the largest pork exporter in the world. In addition, I believe we’ll see near-record U.S. pork production due to productivity growth. Hog and pork prices will climb higher than 2023 due to the rebound in domestic demand plus continued export growth. I expect a return to pr