It’s been a challenging past year and a half, with the majority of pork producers experiencing negative profit margins. The lull was the worst in history, including 1998, when low hog prices cost the industry and producers over $2.6 billion. And while there was hope 2024 would prove more profitable, low hog futures and higher production costs have experts lowering their expectations.

Senior livestock economist Steve Meyer from Ever.Ag Insights cites a decrease in domestic demand is also causing a negative trend rather than export demand.

Read more on current industry conditions here.