# Porkonomics: An Economic Outlook for the Pork Industry - Pork Checkoff

> An economic outlook presented at the World Pork Expo says consumer sentiment has softened since 2022 as incomes fall. Hog slaughter is up year to date while breeding herd utilization is at its lowest since 2015, and economists expect lean hog prices to decline in late 2023 before recovering in 2024.

- Date: 2023-07-10 · published 2023-07-10T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/35181-porkonomics-an-economic-outlook-for-the-pork-industry-pork-checkoff
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

Expected herd reductions point to tighter hog supply into 2024, while softer demand and lower late-2023 prices weigh on near-term pork values.

## Read by commodity

- HOGS: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2024-05-31 | [Cut Through the Noise: What Economists Want Producers to Know - Pork Business](https://feedsoft.ai/events/30397-cut-through-the-noise-what-economists-want-producers-to-know-pork-business.md) | -0.8% | -3.2% |
| HOGS | 2019-03-08 | [Analyst: Beef will lead the protein pack in 2019 \| 2019-03-08  \| MEAT+POULTRY](https://feedsoft.ai/events/60235-analyst-beef-will-lead-the-protein-pack-in-2019-2019-03-08-meat-poultry.md) | +9.2% | +36.7% |
| HOGS | 2020-04-01 | [Kay’s Korner: Industry looks to grilling season \| Western Livestock Journal](https://feedsoft.ai/events/6291-kay-s-korner-industry-looks-to-grilling-season-western-livestock-journal.md) | -14.7% | -4.8% |
| HOGS | 2018-06-04 | [FoodFarmNews: China’s pig farmers plan to produce mega hog-farms to meet demands of world’s biggest pork market](https://feedsoft.ai/events/64512-foodfarmnews-china-s-pig-farmers-plan-to-produce-mega-hog-farms-to-meet-demands.md) | +3.9% | +10.6% |
| HOGS | 2022-10-19 | [Meat Values Stoke Revenues; Inflation Offers Pause, CoBank Says - Pork Business](https://feedsoft.ai/events/39276-meat-values-stoke-revenues-inflation-offers-pause-cobank-says-pork-business.md) | +1.4% | -3.0% |

## Sources

- porkcheckoff.org: https://www.porkcheckoff.org/news/porkonomics-an-economic-outlook-for-the-pork-industry/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.