U.S. hog prices in 2014 have reached an all-time high of $127 per hundredweight this March surpassing the previous record of $105 per hundredweight set in August 2011. The price spike is the result of tight supplies of competing meats and the herd loss due to the spread of porcine epidemic diarrhea virus (PEDv). The U.S. will slaughter five to ten million fewer hogs this year, however weight per pig going to market is up 3.3% keeping production almost steady with a decline of only 0.9%. Ron Plain, an ag economist with the University of Missouri states that production will likely decline as the year progresses however the decline will be gradual and a sudden hole in slaughter will not occur. Since reaching $127 per hundredweight in March, prices have been steady at around $108 per hundredweight. Mr. Plain expects prices to gradually increase throughout the summer, peaking at $120 per hundredweight in August before falling off going into fall.
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