Grocery storeDomestic meat staples beef and pork couldn’t be more market opposites right now. One is up 23% over the last year and the other is down 25%. Hog farmers are seeing sows at just $57 per cwt, down 7.6% from the previous month and in stark contrast to last April when pork netted $76.20 per cwt. Some hog producers are losing as much as $30 to $40 per head. Meanwhile, beef values have jumped from $118 to $171.

What’s driving the disparity? For pork, 2018’s African swine fever outbreak led to record exports. But even the strongest runs lose steam. U.S. pork exports fell 10% as China rebuilt its hog herd, leading to pork prices falling 25% in just one year. Beef is enjoying the price run primarily due to shrinking inventory. The U.S. beef cow herd stands at 28.9 million head, the lowest level since 1962. Beef’s strong value also supports dairy replacement prices, even though milk prices have begun to slide.

Read more on pork and beef values here.