Steve Meyer

Vice President, Pork Analysis,
Express Markets Inc. Analytics

Steve Meyer, vice president of pork analysis for Express Markets Inc. Analytics of Fort Wayne, Ind. Express Markets and EMI Analytics have been involved in price discovery and analysis for the broiler industry since 2003. They added similar capabilities for turkey in 2008 and have recently added market analysis of pork and beef markets to their product offerings in order to meet the broad information and knowledge needs of customers throughout the meat and poultry production, processing and marketing systems. In May of 2015, Meyer sold Paragon Economics to Express Markets Inc. He brings a wealth of experience in the livestock industry, having served as director of economics for the National Pork Producers Council (1993-2001), and held the same position for the National Pork Board from 2001 to October 2002. In that capacity, Steve provided economic counsel to producers and Pork Board staff and coordinated staff and consultants’ activities regarding meat industry production, price forecasts and the economic impact of pork production and processing. In addition, he administered NPPC programs dealing with marketing and pricing systems, structure, pork industry coordination and competitiveness. Previously, Steve served as a swine business specialist with Moorman Manufacturing Co., a sales representative with Dow Chemical and sales manager for an animal health and agricultural chemical distributor. In addition, he spent three years as an assistant professor in the agriculture economics department at the University of Missouri.

Market hogs with price level and risk in mind
When to pull the trigger on hog prices in the million-dollar question; a question producers need to ask themselves at least weekly. There are buyers offering real money every day for CME Lean Hogs futures contracts that effectively place a price on hogs to be delivered during some future period. It’s not an exact process but the opportunity is there.
No supply fears, pork needs to be pushed
Pigs are plentiful and are going to stay that way as long as PEDV is quiet in sow farms. Margins are there to make money even if retail and menu prices are lower. While fresh pork may not be the store traffic driver of beef or chicken, bacon and brats could have some significant impacts at this time of year.
Hog price rebound factors supplies
Lean Hogs futures continued their long, slow climb out of their deep hole last week and, at least for those contracts through August, are higher again on Monday. In fact, summer contracts are bumping $80 today.
February exports better, still lag ’14
February was another tough month for pork exports. That really isn’t news to anyone, but the truth is that exports were indeed better relative to January but still trail 2014 levels substantially.
Lean hogs futures react to report as expected
The March 27 quarterly Hogs and Pigs Report implies that there are going to be a lot more hogs on the market this year, compared to last year. Initially the market did not react harshly to these larger-than-normal year-over-year increases. They represent a return to pre-PEDV days and imply slaughter levels slightly larger than those of 2013 through the third quarter.
Beef remains a solace for pork market
Market factors make it prime time for retailers to start featuring pork, and in a big way, because there are plenty of pigs that will be making their way into the market.
Hog markets could use a little good news
It was another tough week for hog and pork markets even though hogs held relatively steady in the face of continuing large slaughter totals. The news on avian influenza was not good either. Anne Murray once sang “could use a little good news today,” and that sentiment was felt in the hog markets.
Pork exports start year poorly; not unexpected news
As expected, January was a dismal month for U.S. pork exports, as well as for beef and poultry. The West Coast port slowdown was likely the largest factor in January’s disappointing, but not surprising, totals.
Are lower hog prices justified by supplies?
First quarter hog slaughter subsided a bit last week, dropping by 0.8% from the week before to 2.262 million head. That figure was still 5.6% larger than last year at a time when the December Hogs and Pigs report indicated that hog supplies should be about 0.5% higher. The average estimated live weight for all hogs dropped another 2 pounds to 284 while the all-hogs estimated carcass weight remained steady at 2015, 1% higher than one year ago.
Cold storage report confirms backlog of product
It was good news that a deal has been struck to resolve the West Coast port labor dispute, but the backlog of product was confirmed in the USDA's Cold Storage report. It will take some time to work through that backlog of product.
West Coast port disruption is FMD Lite
The export disruption caused by the West Coast port situation provides a glimpse of the impact that “a trade-disrupting animal health situation” of hoof and mouth disease, classical swine fever and African swine fever would have on the U.S. pork export picture.
December repeats broken record for pork real per capita expenditures
December was yet another great month for real per-capita expenditures for pork. The month’s $12.83 (year-2000 dollars) was the highest December figure since 1990 when pork RPCE tied the $14.08 record high set just one month earlier. That is the highest level ever in our data set that goes back to 1988.
Pork demand driven by competing meat prices
A major contributor to strong pork demand has been the prices of competing meats over the past couple of years. Major reductions in turkey supply, a very slow response to lower feed costs by the broiler industry and the aftermath of the droughts of 2011 and 2012 in the beef industry have all been helpful to pork demand. When the prices of competing products rise, consumers substitute pork and push the demand higher.
Entering new normalcy of hog marketing
“Welcome back to the real world.” That 2014 trip off into fantasy-land was fun – except for that part with all those dead pigs in some of your farrowing units – but we are now back to reality. There are bad and good parts of that reality.
Pork prices to struggle in competition for the consumer 1
As hog prices fall, producers begin to ask "what are pork prices doing?" Lower hog prices are usually driven by higher production and that means more product on the market. Everyone wants to make sure the market is cleared and that takes lower prices. The question of course is one of degree: Just how much lower is needed?
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