# 2023 U.S. pork profitability banks upon many factors

> The National Pork Producers Council reports the cost of raising pigs in February 2023 was 13% above a year earlier, driven by feed costs up 19%. Producer-sold hogs averaged about $75/cwt in early 2023, well below the estimated $100 breakeven, and USDA projects live hog prices down 14.3% for the year.

- Date: 2023-04-18 · published 2023-04-18T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/36550-2023-u-s-pork-profitability-banks-upon-many-factors
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Weak hog prices against high feed costs are squeezing producer margins, which could cut future herd growth and feed demand from hog operations.

## Read by commodity

- SBM: neutral
- CORN: neutral
- HOGS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2026-03-04 | [China pork market: production up, imports down \| AHDB](https://feedsoft.ai/events/20147-china-pork-market-production-up-imports-down-ahdb.md) | +0.8% | -2.6% |
| HOGS | 2020-07-31 | [COVID-19 Disruptions in the U.S. Meat Supply Chain
        
        
        
        - Federal Reserve Bank of Kansas City](https://feedsoft.ai/events/52237-covid-19-disruptions-in-the-u-s-meat-supply-chain-federal-reserve-bank-of.md) | -1.7% | +6.3% |
| HOGS | 2023-09-28 | [China’s ailing pork demand another sign of economic distress \| FMT](https://feedsoft.ai/events/34095-china-s-ailing-pork-demand-another-sign-of-economic-distress-fmt.md) | -2.5% | -13.6% |
| HOGS | 2024-06-03 | [U.S. livestock: Lean hog futures fall after Mexican election - AgCanada](https://feedsoft.ai/events/29919-u-s-livestock-lean-hog-futures-fall-after-mexican-election-agcanada.md) | -1.0% | -3.4% |
| HOGS | 2017-06-08 | [China's May inflation expected to rise as food price decline narrows - Chinadaily.com.cn](https://feedsoft.ai/events/70488-china-s-may-inflation-expected-to-rise-as-food-price-decline-narrows-chinadaily.md) | +2.4% | +13.2% |
| CORN | 2019-02-25 | [Global Nitrogen Market: 6 Factors to Watch in 2019 - CropLife](https://feedsoft.ai/events/60901-global-nitrogen-market-6-factors-to-watch-in-2019-croplife.md) | -1.0% | +2.4% |
| CORN | 2025-08-15 | [2025 farm profit forecast: Negative, despite bigger government payments](https://feedsoft.ai/events/23305-2025-farm-profit-forecast-negative-despite-bigger-government-payments.md) | +2.6% | +5.0% |
| CORN | 2024-12-19 | [Market Perspectives - December 19, 2024 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/11563-market-perspectives-december-19-2024-u-s-grains-and-bioproducts-council.md) | +2.0% | +7.4% |

## Sources

- nationalhogfarmer.com: https://www.nationalhogfarmer.com/market-news/2023-u-s-pork-profitability-banks-upon-many-factors

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