Pork price

Pork

Pigs have a higher proportion of body fat than cattle or sheep. Pork with intramuscular fat cover totaling 5-8% of the carcass, generally has a more desirable eating quality than leaner pork. The type of muscle fiber present affects tenderness as well as juiciness and flavor. In general, fine-grained, white muscle is most desirable. The ultimate pork product consists of pinkish-beige meat with fine texture and uniform color. Meat from the shoulder and legs of older pigs may be dark-colored with coarse texture. The fat in these areas may contain a high proportion of connective tissue, resulting in low tenderness and poor flavor. The general goal in selecting sows for production is to obtain young pigs that is leaner at market weight while still having enough fat for good marbling. The age, weight, and time of mating are the main factors that determine the amount of fat in frozen pork carcass. Large pigs or sows mated late in gestation, produce carcasses with larger backfat thickness than smaller females mated early in gestation. Pork carcasses are graded on quality before they are chilled or processed. Grading for quality determines the price paid to producers by packers and processors. Pork carcasses also are graded for yield (amount of boneless lean and fat) to help packers and processors determine the cutability of each carcass. The regulations for federal meat inspection require that pork carcasses be free from disease; free from contamination; free from visible bruises, discoloration, and areas where more than 1/4 inch of lean is missing due to fat or bone; normal skeletal size and shape of meat cuts; and free from foreign material. The six classes of pork carcasses are sorted by quality, yield grade, and the amount of lean and fat on each carcass. Quality classifications include Prime, Choice, Good, Standard, Utility, Cutter (waste). There are two yield grades (1 and 2). The amount of lean and fat is separated into three categories (A, B, C) with A having the leanest and least fat. The USDA grading of pork carcasses is based on sensory evaluation and skilled assessment of the amount and distribution of lean, fat, bone, bruises and meat color. This information provides the basis for determining handling and processing practices to meet consumer preference and improve yield.

Global pork production

In 2014, global pork production totaled 115.7 million metric tons (MMT). This represented an increase of 2.4 percent from 2013 and was the highest level of pork production on record. The top 10 pork-producing countries in 2014 were China, the European Union, the United States, Brazil, Russia, Canada, Mexico, Vietnam, Germany, and Spain. Combined, these 10 countries accounted for approximately 80 percent of the world's pork production in 2014. China is by far the largest pork producer in the world, accounting for more than half of global pork production in 2014. The Chinese pork industry has been undergoing significant changes in recent years, with large-scale commercialization of production and growing demand for pork products. In 2014, China produced 62.4 MMT of pork, an increase of 3.4 percent from 2013. The European Union is the second-largest pork producer in the world, accounting for more than 20 percent of global production in 2014. The EU pork industry is characterized by a high degree of fragmentation, with small and medium-sized farms accounting for the majority of production. In 2014, the EU produced 24.4 MMT of pork, an increase of 1.7 percent from 2013. The United States is the third-largest pork producer in the world, accounting for more than 8 percent of global production in 2014. The US pork industry is highly concentrated, with the top four companies accounting for more than 60 percent of production. In 2014, the United States produced 9.4 MMT of pork, an increase of 2.6 percent from 2013. Brazil is the fourth-largest pork producer in the world, accounting for more than 5 percent of global production in 2014. The Brazilian pork industry is highly concentrated, with the top four companies accounting for more than 80 percent of production. In 2014, Brazil produced 5.9 MMT of pork, an increase of 4.4 percent from 2013. Russia is the fifth-largest pork producer in the world, accounting for more than 3 percent of global production in 2014. The Russian pork industry is characterized by a high degree of fragmentation, with small and medium-sized farms accounting for the majority of production. In 2014, Russia produced 3.7 MMT of pork, an increase of 1.5 percent from 2013. The top 10 pork-producing countries in the world are expected to continue to dominate global production in the years to come. Together, these countries are projected to produce more than 92 million metric tons of pork in 2020, accounting for approximately 80 percent of the world's total pork production. China is expected to remain the largest pork producer in the world, with an estimated production of 65 MMT in 2020. The United States is projected to remain the second-largest pork producer, with an estimated production of 11 MMT in 2020. Brazil is projected to remain the third-largest pork producer, with an estimated production of 7 MMT in 2020. Russia is projected to remain the fifth-largest pork producer, with an estimated production of 4 MMT in 2020.