The following report was prepared and written by Jeff Swenson, DATCP Livestock and Meat Specialist. The Market Update draws information from several sources, including trade publications, radio broadcasts, agricultural news services, individuals involved in the industry as well as USDA NASS and AMS reports. Edited by Mid-West Farm Report.
Meat packers have indicated they have worked through their holiday backlog of hogs. Fewer available market-ready hogs and a boost from cattle prices have pushed Lean Hog futures contracts higher this week.
Hog prices were unchanged last week. The estimated harvest for the week was 2.477 million, 150,000 fewer than the previous week and 211,000 fewer than last year. The pork cutout value was up 90 cents at $91.35.
Pork production in December totaled 2.33 billion pounds, 1 percent lower than the previous year. Hog harvest was also 1 percent lower from December 2023. The average live weight was unchanged from the previous year, at 291 pounds.
In Other Livestock News:
■ Join DATCP’s next Meat and Poultry Businesses Office Hours, Feb. 5, 8-9 a.m., on Zoom: https://www.zoomgov.com/j/1619559657?pwd=cNEHVb04Y5Rapb0cjXQ7ImlgcjqvNC.1
■ Three Producing Quality Beef Workshops are scheduled for February. For dates, locations, and registration, visit: https://www.beeftips.com/cattlemens-corner/monthly-checkoff-updates/producing-quality-beef-workshops/