Global pork market summary highlights concerns, challenges and positive trends

Global pork producers remain cautious despite improved profitability, as uncertainties in trade, disease, and demand, along with La Niña’s potential impacts, continue to challenge the industry. Key highlights include:

Herd Expansion:

• Stable Sow Herds: The global sow herd remained unchanged in Q3 2024, with no significant expansion. Seasonal production increases are expected with cooler temperatures and fresh corn availability, but health challenges may rise.

Feed Production and Costs:

• Mixed Feed Costs: Lower corn and soymeal costs have provided relief in many regions, but tight wheat supplies keep costs high elsewhere.
• La Niña’s Impact: Dry conditions in South America and Asia could exacerbate feed shortages. Delays in Brazil’s soybean planting may reduce second-crop corn acreage in 2025.
• Regional Disparities: While North America benefits from a strong harvest, the EU and Asia face shortages. Global stocks are projected to keep costs moderate overall in 2024/25.

Pork Consumption:

• Improved Demand: Pork consumption continues to grow due to improving economic trends, lower energy costs, and high prices of alternative proteins. Seasonal demand in Q4 2024 is expected to support further growth.
• Consumer Challenges: Persistent economic difficulties affect consumer confidence, influencing prices, investments, and global trade dynamics.

Outlook:

Producers must navigate localized challenges and economic pressures while leveraging improving consumption trends and moderate feed costs to maintain profitability.