Urner Barry analyst Russell Barton reported that combined beef and pork production for the week ending November 19 hit an all-time high volume of 1.0618 billion pounds. This record setting week was led by the pork side, with pork production also establishing a new all-time high at 534.3 million pounds, he said.
Additionally, the volume exceeded the beef counterpart by 6.8 million pounds. “Weekly pork production has exceeded that of beef for 21 out of 46 weeks so far in 2016,” Barton said. The week’s beef production totaled 527.5 million pounds, 55.1 million pounds below the all-time high set in June of 2003.
“Record packer margins accompanied by ample hog supplies have opened the door for these incredible production figures,” Barton explained, adding that in the third quarter U.S. Department of Agriculture’s “Hogs & Pigs” report, the figures for all hogs and pigs inventory, market hog inventory, pig crop and pigs saved per litter each set new all-time highs.