The outlook for 2018 is for the third consecutive year with record hog slaughter. Hog prices are likely to average slightly below the breakeven level. Rapid growth in U.S. ethanol production led to very high grain prices during 2006 to 2013 which caused a great deal of financial stress for livestock and poultry producers. Slower growth in ethanol production combined with record corn harvests in 2013, 2014 and 2016 have pushed down feed prices and aided livestock profits. The death of nearly 7 million baby pigs from the PED virus reduced hog slaughter and pushed 2014 hog prices to record highs. Since then, hog numbers have increased and prices decreased.
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