2011 Midwest/Great Plains & Western Outlook Conference Hog & Pork Outlook Louisville, August 15-16 Ron Plain D. Howard Doane Professor of Agricultural Economics University of Missouri-Columbia http://web.missouri.edu/~plainr/ Annual U.S. Pork Production, 1930-2011 Billion Pounds 25 actual 1.5% trend 20 15 10 2011 U.S. pork production expected to be on trend 5 2010 2005 2000 1995 1990 1985 1980 1975 1970 1965 1960 1955 1950 1945 1940 1935 1930 0 Cost of Production Source: USDA/NASS 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989 1988 1987 $ per bushel Corn, Average Price Received, Monthly, 1987-2011 7 6 5 4 3 2 1 0 Cost of Slaughter Hog Production Iowa State University Calculations, 1987-2011 $ Per Live Cwt 70 65 60 55 50 45 Marketing Month Source: John Lawrence, Iowa State University 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989 1988 35 1987 40 Corn Price & Cost of Hog Production Monthly, 1987-2011 70 7 Hog Cost Corn $ 65 60 6 5 55 50 4 45 3 40 2 35 1 30 Source: John Lawrence, Iowa State University 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989 1988 0 1987 25 Corn Price & Cost of Hog Production Monthly, 1987-2011 70 7 Hog Cost Corn $ 65 60 6 5 55 50 4 45 3 40 2 35 1 $6.70 corn implies hog cost at $68/cwt live or $89/cwt car. 30 Source: Shane Ellis, Iowa State University 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989 1988 0 1987 25 Iowa Farrow to Finish Profits, 1997-2011 Iowa State University Calculations $ Per Head 50 30 10 -10 -30 Source: Shane Ellis, Iowa State University 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 -70 1997 -50 Monthly Profit Per Pig 1997-02 Dollars 2007-11 60 40 20 0 -20 -40 -60 Source: Shane Ellis, Iowa State University 02&12 01&11 00&10 99&09 98&08 97&07 -80 Correlation of Profit & Lagged Hog Slght 20 %ChDaHogSlt Lag 5 Qtr Profit 10 0 10-1 08-1 06-1 04-1 02-1 00-1 98-1 96-1 94-1 92-1 90-1 88-1 86-1 84-1 -20 82-1 -10 International Trade U.S. Meat Exports, 2000-2011 800000 Tthousand pounds 700000 Beef Pork Broiler Turkey 600000 500000 400000 300000 200000 100000 0 Jan- Jul Jan- Jul Jan- Jul Jan- Jul Jan- Jul Jul Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan 00 01 02 03 04 JanJan07 08 09 10 11 05 06 U.S. Pork Imports & Exports 5,000 4,500 Imports Exports 3,500 3,000 2,500 2,000 1,500 1,000 500 2010 2008 2006 2004 2002 2000 1998 1996 1994 1992 1990 1988 1986 1984 1982 0 1980 Million Pounds 4,000 U.S. Pork Imports & Exports, 2000-2011 Mil. lbs. 600 Monthly Carcass Weight Equivalent Imports 500 Exports 400 300 200 100 Jan 11 Jan-10 Jan 09 Jan 08 Jan 07 Jan-06 Jan-05 Jan-04 Jan-03 Jan-02 Jan-01 Jan-00 0 U.S. Pork Imports & Exports as % of U.S. Pork Production, 2006-2011 Monthly Carcass Weight Equivalent 30 20 15 10 Imports Exports 5 Apr Jan 11 Oct Jul Apr Jan 10 Oct Jul Apr Jan 09 OCT JUL APR Jan 08 OCT JUL APR Jan 07 OCT JUL APR 0 Jan 06 % of Production 25 U.S. Pork Exports, 2006-2011 Mil. lbs. 160 Monthly Carcass Weight Equivalent Japan Russia 140 Canada S Korea Mexico China HK 120 100 80 60 40 20 Jan-11 Jan-10 Jan-09 Jan-08 Jan-07 Jan-06 0 Frozen Pork & U.S. Pork Exports, 2000-2011 700 600 Million pounds 500 400 300 200 100 Cold Storage Exports 0 Jan- Jul Jan- Jul Jan- Jul Jan- Jul Jan- Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul 00 01 02 03 04 05 06 07 08 09 10 11 U.S. Hog Imports from Canada Head per mo. 800,000 Slaughter Hogs 700,000 Feeders Pigs 600,000 500,000 400,000 300,000 200,000 100,000 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 0 Meat Demand U.S. Per Capita Meat Consumption Pounds Pork Beef Turkey Broilers Fish Source: USDA/ERS 2010 2005 2000 1995 1990 1985 1980 1975 1970 1965 1960 1955 1950 1945 100 90 80 70 60 50 40 30 20 10 0 U.S. Per Capita Meat Consumption Pounds Source: USDA/ERS 2010 2005 2000 1995 1990 1985 1980 1975 1970 1965 1960 1955 1950 1945 250 240 230 220 210 200 190 180 170 160 150 Grains, Feed and Residual Bil. Bushels 8 7 6 DDGS 5 Wheat 4 Oats 3 Barley 2 Sorghum 1 2010 2008 2006 2004 2002 2000 1998 1996 1994 1992 1990 1988 1986 1984 1982 1980 Corn 1978 0 Forecast Change in Meat Production Type Beef Pork Chicken Turkey All Meats --Percent Change-2010-11 2011-12 - 0.7% - 4.3% +1.0% +1.6% +1.3% +1.0% +2.4% +0.4% +0.7% - 0.4% Source: USDA-OCE WASDE, August 2011 Change in Retail Meat Demand Base Elasticity = - 0.75 % change from year ago 10 8 6 4 2 0 -2 -8 2002 > May Sep 2003 May Sep 2004 May Sep 2005 > May Sep 2006 > May Sep 2007> May Sep 2008> May Sep 2009> May Sep 2010> May Sep 2011> May -4 -6 Source: Ron Plain, University of Missouri Change in Pork Demand % change from year ago Base Elasticity = - 0.75 8 3 -2 -12 2002 > May Sep 2003 May Sep 2004 May Sep 2005 > May Sep 2006 > May Sep 2007> May Sep 2008> May Sep 2009> May Sep 2010> May Sep 2011> May -7 Source: Ron Plain, University of Missouri Change in Pork Export Demand Base Elasticity = - 0.5 % change from year ago 110 90 70 50 30 10 -10 -50 2002 > May Sep 2003 > May Sep 2004 > May Sep 2005 > May Sep 2006 > May Sep 2007> May Sep 2008> May Sep 2009> May Sep 2010> May Sep 2011> May -30 Source: Ron Plain, University of Missouri Change in Hog Demand Base Elasticity = - 0.2 % change from year ago 18 13 8 3 -2 -12 2002 > May Sep 2003 May Sep 2004 May Sep 2005 > May Sep 2006 > May Sep 2007> May Sep 2008> May Sep 2009> May Sep 2010> May Sep 2011> May -7 Source: Ron Plain, University of Missouri 250 2001 > May Sep 2002 > May Sep 2003 > May Sep 2004 > May Sep 2005 > May Sep 2006 > May Sep 2007 > May Sep 2008 > May Sep 2009 > May Sep 2010 > May Sep 2011 > May Retail Boneless Pork Prices Retail Prices, Monthly, 2001-2011 Cents/lb 500 450 Bacon Source: USDA/ERS Chops Ham 400 350 300 Source: U.S. Commerce Department 11-1 10-3 10-1 09-3 09-1 08-3 08-1 07-3 07-1 06-3 06-1 05-3 05-1 Percent Change Growth in Real GDP 6 4 2 0 -2 -4 -6 -8 -10 U.S. Unemployment Rate, Seasonally Adjusted, 1996-2011 11 10 8 7 6 5 4 Source: Bureau of Labor Statistics 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 3 1996 Percent 9 Average Duration of Unemployment Current Situation • The government is broke, unemployment is high, the stock market has collapsed, the economy is barely growing, and consumer confidence is the lowest since May 1980. • Needless to say, this is not good for domestic meat demand. Inventory Surveys D ec ec ec ec ec ec ec ec ec ec ec ec D D D D D D D D D D D 10 09 08 07 06 05 04 03 02 01 00 99 Thousand Head U.S. Swine Breeding Herd, 1999-2011 6300 6200 6100 6000 5900 5800 5700 Canadian Swine Breeding Herd, 2000-2011 1700 1650 1550 1500 1450 1400 1350 1300 1250 11 Ja n 10 Ja n 09 Ja n 08 Ja n 07 Ja n 06 Ja n 05 Ja n 04 Ja n 03 Ja n 02 Ja n 01 Ja n 00 1200 Ja n Thousand Head 1600 Hog Inventory Reports U.S. June Canada April All Hogs & Pigs Kept for Breeding Kept for Marketing 100.5 100.3 100.6 101.4 99.6 101.6 Under 50 lbs 50-119 lbs. 120-179 lbs. 180 lbs. and over 100.1 99.8 103.3 99.5 101.3 99.5 104.0 Sep-Nov Farrowings Dec-Feb Farrowings Mar-May Farrowings Jun-Aug Farrowing Intentions Sep-Nov Farrowing Intentions 98.8 99.4 98.2 97.4 98.9 98.6 97.9 100.7 99.8 Hog Inventory Reports U.S. June All Hogs & Pigs Kept for Breeding Kept for Marketing Which is important? More sows or fewer litters? Under 50 lbs 50-119 lbs. 120-179 lbs. 180 lbs. and over Sep-Nov Farrowings Dec-Feb Farrowings Mar-May Farrowings Jun-Aug Farrowing Intentions Sep-Nov Farrowing Intentions Canada April 100.5 100.3 100.6 101.4 99.6 101.6 100.1 99.8 103.3 99.5 101.3 99.5 104.0 98.8 99.4 98.2 97.4 98.9 98.6 97.9 100.7 99.8 Daily Hog Slaughter by Quarter % change from yr. ago 10 8 6 4 2 0 -2 -4 -6 -8 DJF11 DJF10 DJF09 DJF08 DJF07 DJF06 DJF05 DJF04 DJF03 DJF02 DJF01 DJF00 DJF99 -10 DJF11 DJF10 DJF09 DJF08 DJF07 DJF06 DJF05 DJF04 DJF03 DJF02 DJF01 DJF00 DJF99 Breeding Herd by Quarter % change from yr. ago 10 8 6 4 2 0 -2 -4 -6 -8 -10 Hog Slaughter & Breeding Herd by Quarter % change from yr. ago 10 8 Br Herd D Hog Slt 6 4 2 0 -2 -4 -6 Correlation = 0.20 -8 DJF11 DJF10 DJF09 DJF08 DJF07 DJF06 DJF05 DJF04 DJF03 DJF02 DJF01 DJF00 DJF99 -10 DJF11 DJF10 DJF09 DJF08 DJF07 DJF06 DJF05 DJF04 DJF03 DJF02 DJF01 DJF00 DJF99 Sows Farrowed by Quarter % change from yr. ago 10 8 6 4 2 0 -2 -4 -6 -8 -10 Sows Farrowed & Hog Slaughter by Quarter % change from yr. ago 10 8 Sows Far D Hog Slt 6 4 2 0 -2 -4 -6 Correlation = 0.78 -8 DJF11 DJF10 DJF09 DJF08 DJF07 DJF06 DJF05 DJF04 DJF03 DJF02 DJF01 DJF00 DJF99 -10 DJF11 DJF10 DJF09 DJF08 DJF07 DJF06 DJF05 DJF04 DJF03 DJF02 DJF01 DJF00 DJF99 U.S. Sows Farrowed by Quarter % change from yr. ago 10 8 6 4 2 0 -2 -4 -6 JFM11 JFM10 JFM09 JFM08 JFM07 JFM06 JFM05 JFM04 JFM03 JFM02 JFM01 JFM00 JFM99 Canada Sows Farrowed by Quarter % change from yr. ago 15 10 5 0 -5 -10 Sows Farrowed-U.S. & Canada Combined % change from yr. ago 6 4 2 0 -2 -4 DJF11 DJF10 DJF09 DJF08 DJF07 DJF06 DJF05 DJF04 DJF03 DJF02 DJF01 DJF00 DJF99 -6 Slaughter Thousand Head Weekly F.I. Sow Slaughter 70 2010 2011 65 60 55 50 45 2011 sow slaughter is down 0.2% Source: USDA/AMS EC D O V N T O C SE P UG A JU L JU N Y M A PR A R M A FE B JA N 40 Thousand Head Slaughter of U.S. Sows 60 2010 2011 55 50 45 40 2011 slaughter of U.S. sows is up 2.8% Source: USDA/AMS EC D O V N T O C SE P UG A JU L JU N Y M A PR A R M A FE B JA N 35 Weekly Slaughter of U.S. Sows 1.1 0.9 0.8 0.7 2010 0.6 2011 Source: USDA/AMS & Ron Plain EC D O V N T O C SE P UG A JU L JU N Y M A PR A R M A FE B 0.5 JA N % of Inventory 1.0 Estimated Gilt Retention & Sow Loss, 2010-11 GG Cattle & Hog Fax 100 80 60 40 Gilts Retained 20 Sow Loss Source: Ron Plain, University of Missouri Jul Jun May Apr Mar Feb 2011 Dec Nov Oct Sep Aug Jul Jun May Apr Mar Feb 0 2010 Thousand Head Per Week 120 Weekly Hog Slaughter Millions 2.5 2.4 2009 2010 2011 2.3 2.2 2.1 2 1.9 1.8 Source: USDA/AMS DE C V NO T O C SE P G AU L JU N JU AY M AP R AR M B FE JA N 1.7 Actual & Predicted Change in B&G Slaughter U.S. Weekly F.I. Hog Slaughter, 2011 % change from yr. ago 8 USDA Jun Forecast Actual 6 4 2 0 -2 Dec Nov Oct Sep Aug Jul Jun May Apr Mar Feb 2011 -4 Hog Slaughter Plant Closings • • • • • • • • • • February 2000 AVA Pork-Shamokin, PA June 2000 Farmland-Dubuque, IA July 2001 Excel-Marshall, MO December 2001 AMPAC/Iowa Pork-Chicago, IL January 2003 Hormel-Rochelle, IL May 2004 RC Pork-Downs, KS September 2005 Smithfield-Smithfield, VA March 2006 Bryan Foods-West Point, MS January 2009 Meadowbrook-Rantoul, IL April 2010 Morrell-Sioux City, IA Triumph plans to build in East Moline, someday $/head Gross Hog Packing Margin 35 30 25 20 15 10 5 0 10 20 09 20 08 20 07 20 06 20 05 20 04 20 03 20 02 20 Source: Ron Plain Weekly Gross Pork Packer Margin, 200 Pound Carcass 60 $ per Head 50 40 30 20 10 Avg 02-09 2010 2011 0 JAN APR JUL Calculation: Byproduct + Cutout – Negotiated net OCT Productivity Growth U.S. Pigs Per Litter by Quarter % change from yr. ago 3 2.5 2 1.5 1 0.5 0 -0.5 DJF11 DJF10 DJF09 DJF08 DJF07 DJF06 DJF05 DJF04 DJF03 DJF02 DJF01 DJF00 DJF99 -1 Barrow & Gilt Live Weights Iowa-Minnesota Weekly Average Pounds 277 2008 275 273 2009 271 269 2010 267 2011 265 263 261 259 Source: USDA/AMS DE C V NO T O C SE P G AU L JU N JU M AY AP R M AR FE B JA N 257 Barrow & Gilt Live Weights Iowa-Minnesota Annual Average Pounds 280 270 Actual Trend 260 250 240 230 2011 2009 2007 2005 2003 2001 1999 1997 1995 1993 1991 1989 1987 1985 1983 1981 220 Weekly Pork Production 500 480 Million Pounds 460 440 420 400 380 360 340 320 2002-09 2010 2011 300 Jan Apr Source: USDA AMS Jul Oct Prices Jan 11 Jan 10 Jan 09 Jan 08 Jan 07 Jan 06 Jan 05 Jan 04 Jan 03 Jan 02 Jan 01 Jan 00 Cents Per Pound U.S. Retail Pork Prices, 2000-2011 360 340 320 300 280 260 240 220 200 Retail Pork Prices 2000-08 2009 2010 2011 350 340 Cents/pound 330 320 310 Record high 300 290 280 270 260 250 Jan Feb Mar Apr May Jun Source: BLS & USDA/ERS Jul Aug Sep Oct Nov Dec Hog Cutout Value, Weekly $ per cwt. 115 110 105 100 95 90 85 80 75 70 65 60 55 50 45 Avg. 2004-08 2009 2010 Source: USDA/AMS T O C JU L PR A JA N 2011 Barrow & Gilt Negotiated Base Price $/cwt 2002-09 2010 2011 100 95 90 85 80 75 70 65 60 55 50 Jan Feb Mar Apr May Jun Source: USDA Prior Day Slaughter reports Jul Aug Sep Oct Nov Dec $ per cwt. National Base Slaughter Hog Price, Weekly 105 100 95 90 Avg. 2004-08 2009 85 80 75 2010 70 2011 65 60 55 50 Source: USDA Prior Day Purchased reports T O C JU L PR A JA N 45 $ per head 10# Early Weaned Pigs, Delivered, Weekly 60 55 50 40 Avg. 2004-08 2009 35 2010 45 30 2011 25 20 15 Source: USDA/AMS T O C JU L PR A JA N 10 Pork Cutout and Hog Price, Weekly, 2009-2011 120 Cutout Carcass 110 90 80 70 60 Source: USDA/AMS Apr 2011 Oct Jul Apr 2010 Oct Jul Apr 50 2009 $/cwt 100 Hog Base Price as Percent of Pork Cutout, Weekly, 2008-2011 110 105 95 90 85 Source: USDA/AMS 2011 2010 2009 80 2008 Percent 100 My Forecast Commercial Hog Slaughter Forecast Million Head 2010 2011 2012 ------Change-----10-11 11-12. Qtr 1 27.630* 27.486* 27.450 - 0.5% - 0.1% Qtr 2 26.074* 26.113* 26.300 + 0.2% +0.7% Qtr 3 26.930* 27.250 27.100 + 1.2% - 0.5% Qtr 4 29.626* 29.250 29.980 - 1.3% +2.5% Year 110.260* 110.099 110.830 - 0.1% +0.7% Note: Q1 10 & Q4 11 & Q3 12 have only 63 slaughter days *actual Iowa-Minn Hog Price Forecast Negotiated Base Price Per Carcass Hundredweight 2009 2010 2011 2012 Qtr 1 $57.23* $66.81* $78.95* $80-84 Qtr 2 $57.32* $79.04* $91.80* $87-91 Qtr 3 $51.43* $79.44* $95-98 $86-90 Qtr 4 $54.98* $65.20* $80-84 $76-80 Year $55.23* $72.67* $86-88 $82-85 *actual price – prior day purchased Iowa-Minn Live Hog Price Forecast Negotiated Live Base Price Equivalent 2009 2010 2011 2012 Qtr 1 $43.49* $50.78* $60.00* $61-64 Qtr 2 $43.56* $60.07* $69.77* $66-69 Qtr 3 $39.09* $60.37* $72-75 $65-68 Qtr 4 $41.78* $49.56* $61-64 $58-61 Year $62-65 $41.97* $55.19* $66-68 *actual carcass price x 76% U.S. Hog Net Carcass Price, Jan 13 Jan 12 Jan 11 Jan 10 Jan 09 Jan 08 Futures Jan 07 Jan 05 Jan 04 Jan 03 Cash Jan 06 120 110 100 90 80 70 60 50 40 30 Jan 02 Dollars Per Cwt Monthly Average, 2002-2011 Thru Feb 2013 all hog futures contracts are above $80 per cwt Major Uncertainties • Domestic meat demand • Exchange rates & exports • Feed costs • Governmental policy – Bio fuels – GIPSA – Animal rights Any Questions? Omaha Corn Prices, Weekly, 2008-2011 8 7 5 4 3 Source: USDA/AMS 2011 2010 2009 2 2008 $/Bushel 6 Frozen Pork, 2000-2011, Start of the Month 700 650 Million Pounds 600 550 500 450 400 350 300 Jan JUL Jan JUL Jan JUL Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul Jan Jul 00 01 02 03 04 05 06 07 08 09 10 11 U.S. Pork Exports, 2000-2011 Mil. lbs. Monthly Carcass Weight Equivalent 600 500 400 300 200 100 Jan 11 Jan-10 Jan 09 Jan 08 Jan 07 Jan-06 Jan-05 Jan-04 Jan-03 Jan-02 Jan-01 Jan-00 0 -10 2002 Apr Jul Oct 2003 Apr Jul Oct 2004 Apr Jul Oct 2005 Apr Jul Oct 2006 Apr Jul Oct 2007 Apr Jul Oct 2008 Apr Jul Oct 2009 Apr Jul Oct 2010 Apr Jul Oct 2011 Apr % Change Year Ago Change in Domestic Beef Demand Base Elasticity = -0.75 15 10 5 0 -5 Source: Ron Plain, University of Missouri Sows Farrowed & Breeding Herd by Quarter % change from yr. ago 10 8 Br Herd Sows Far 6 4 2 0 -2 -4 -6 -8 DJF11 DJF10 DJF09 DJF08 DJF07 DJF06 DJF05 DJF04 DJF03 DJF02 DJF01 DJF00 DJF99 -10 Sows Farrowed, Breeding Herd & Hog Slaughter by Quarter % change from yr. ago 10 8 6 4 2 0 -2 -4 -6 D Hog Slt Br Herd Sows Far -8 DJF11 DJF10 DJF09 DJF08 DJF07 DJF06 DJF05 DJF04 DJF03 DJF02 DJF01 DJF00 DJF99 -10 D ec ec ec ec ec ec ec ec ec ec ec ec D D D D D D D D D D D 10 09 08 07 06 05 04 03 02 01 00 99 Thousand Head U.S. Swine Breeding Herd, 1999-2011 6300 6200 6100 6000 5900 5800 5700 M 09 08 AM 11 AM 10 AM AM 07 ar 06 ar 05 ar 04 ar 03 ar 02 ar 01 ar 00 AM M M M M M M M M M M M Thousand Head U.S. Sows Farrowed, 2000-11 3300 3200 3100 3000 2900 2800 2700 2600 2500 Barrow & Gilt Carcass Weights U.S. Annual Average Pounds 210 205 Actual 200 Trend 195 190 185 180 175 170 165 2011 2009 2007 2005 2003 2001 1999 1997 1995 1993 1991 1989 1987 1985 1983 1981 1979 1977 160 Barrow & Gilt Negotiated Live Price $/cwt 80 2004-07 2008 2009 2010 2011 75 70 65 60 55 50 45 40 35 Jan Feb Mar Apr May Jun Source: USDA Prior Day Purchased reports Jul Aug Sep Oct Nov Dec MPR Negotiated Carcass Hog Prices, WCB minus ECB, Weekly, 2009-10 $/cwt 6 5 4 3 2 1 0 -1 -2 Source: USDA/AMS Prior Day Purchased Dec Sep Oct Nov Jul Aug Apr May Jun 2010 Feb Mar Dec Nov Aug Sep Oct May Jun Jul 2009 Feb Mar Apr -3 U.S. Pork Exports, Jan-May 2011 Change From Year Ago Country 000 lbs Percent Japan 80,639 14.8% Mexico 10,799 2.6% S. Korea 157,270 147.3% Canada 18,135 10.4% China & HongKong 49,624 37.4% Australia 17,748 25.6% Russia 39,504 125.3% TOTAL 315,257 17.9% Source: USDA/ERS U.S. Hog Imports & Exports Mil. head 12 Imports 10 Exports 2010 hog imports were down 10% 8 6 4 2 2010 2008 2006 2004 2002 2000 1998 1996 1994 1992 1990 1988 1986 1984 1982 1980 0 U.S. Per Capita Meat Consumption Pounds Source: USDA/ERS 2010 2005 2000 1995 1990 1985 1980 1975 1970 1965 1960 1955 1950 1945 250 240 230 220 210 200 190 180 170 160 150