In the mud: Revenue is declining due to falling prices of inputs and other meats

IBISWorld’s industry research report on Hog & Pig Farming provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.


Industry Threats & Opportunities

  • Falling feed prices have led to declining pork prices and sales
  • Lower prices have strengthened demand for pork
  • Minimal increases to employment will help keep wages steady
  • Industry Analysis & Industry Trends

    Over the past five years, the Hog and Pig Farming industry has suffered the effects of falling prices. A huge hit to the price of feed substantially decreased revenue, and price-based competition from other meats like beef and poultry has kept revenue down, even as consumer demand for pork has risen. The five years to 2022 hold more of the same for the industry. With the stagnating growth of per capita pork consumption and continually falling prices of red meat and poultry, revenue will continue to decline.

    Industry Report - Industry SWOT Analysis Chapter

    The Hog and Pig Farming industry is in the mature phase of its life cycle. The industry's value added (IVA), which measures the industry's contribution to the overall economy, is projected to fall by an annualized 1.6% over the 10 years to 2022. In comparison, the US GDP is forecast to grow at an annualized rate of 2.1% over the same period. While a falling IVA is usually indicative of a declining industry, this IVA calculation has been driven down by one particularly large decline in 2015.

    The industry is also mature as a result of extremely limited opportunities to introduce new products. In livestock-based industries, new product development usually occurs downstream, where processors introduce new meat cuts. At

    Additional Insights for the Hog & Pig Farming Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Hog & Pig Farming Industry are

  • Use of specialist equipment or facilities
  • Proximity to key suppliers
  • Proximity to key markets
  • IBISWorld analysts also discuss how external factors such as Price of red meat and Demand from meat, beef and poultry processing in the Hog & Pig Farming industry impact industry performance..

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    Industry Products

    What is the Hog & Pig Farming Industry?

    Establishments in this industry farm hogs and pigs in operations that include breeding, farrowing, weaning and raising feeder pigs or market-size hogs. The term pig usually refers to the domestic mammal when it is young or small, while hog is the name typically given to domesticated pigs that weigh more than 120 pounds. While hog feedlots are included in the industry, the transportation of the livestock is excluded.

    Industry Products
    Market hogs
    Feeder pigs
    Cull stock
    Breeding stock
    Industry Activities
    Farrow-to-finish operations
    Feeder pig farming
    Hog feedlots (except stockyards for transportation)
    Hog and pig farms (including breeding, farrowing, nursery and finishing activities)
    Weaning pig operations

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Price of red meat
  • Demand from meat, beef and poultry processing
  • Per capita pork consumption
  • Price of poultry meat
  • Price of feed

  • Current Performance
  • Plummeting prices
  • More meat
  • Live hog trade
  • Chart: Revenue Growth

  • Industry Outlook
  • Price competition
  • Slowed company growth
  • Minimal trade
  • Table: Hog & Pig Farming Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Hog & Pig Farming Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Hog & Pig Farming
  • Meat, Beef & Poultry Processing
  • Beef & Pork Wholesaling
  • Cattle & Hog Wholesaling

  • Key Selling Industries
  • Animal Food Production
  • Cattle & Hog Wholesaling
  • Corn, Wheat & Soybean Wholesaling
  • Farm Supplies Wholesaling
  • Farm, Lawn & Garden Equipment Wholesaling
  • Hog & Pig Farming
  • Livestock Production Support Services
  • Veterinary Services

  • Products & Services
  • Market hogs
  • Feeder pigs
  • Breeding stock
  • Cull stock
  • Chart: Hog & Pig Farming Industry Products and Services Segmentation

  • Demand Determinants
  • Price points
  • Supply and demand
  • Health concerns

  • Major Markets
  • Pig and hog processors
  • Other pig farmers
  • Export and other
  • Chart: Major Market Segmentation for the Hog & Pig Farming Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesDepreciationWagesOther costs
  • Chart: Cost Structure Benchmarking – Sector vs Hog & Pig Farming

  • Basis of Competition
  • Major operators
  • Independent contractors
  • Animal Welfare
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Hog & Pig Farming Industry

  • Industry Globalization
    Major Companies
    Smithfield Foods Inc.
  • Table: Smithfield Foods Inc. - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Hog & Pig Farming Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Hog & Pig Farming Industry
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (2008-2022)
  • Wages (2008-2022)
  • Price of Red Meat (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Jargon & Glossary
  • The act of breeding and raising pigs for sale.
  • Feeder Pig
  • A weaned female swine or male hog castrated before sexual maturity and sold to be finished for slaughter.
  • H1n1
  • A new strain of swine-origin influenza that was discovered in 2009 and caused a subsequent pandemic in the United States.
  • Hazard Analysis And Critical Control Points
  • A safety system for food and pharmaceuticals that addresses physical, chemical and biological hazards as a means of prevention; also known as HACCP.
  • Sow
  • A female pig that has given birth to a litter of piglets.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
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    This report on Hog & Pig Farming:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Hog & Pig Farming market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Hog & Pig Farming, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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