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.
Hogs and Pork
Full production schedules will be welcomed in the pork sector as live weights continue to increase with a weekly average of 293.2 pounds. The heavier weights come at a time when wholesale prices are already under pressure. Weights will need to decrease before producers have more leverage in the market. The pork cutout averaged $90.87 last week, a decline of $4.26. Ham primals were sharply lower which is typical after the holidays. The national carcass base price was $81.03 last week with prices holding mostly steady this week.
USDA estimates 2.288 million hogs and pigs were harvested last week, 205,000 more than the prior week and 80,755 fewer than last year. Feeder pig prices have been working higher with USDA posting the average price of 40-pound pigs at $95.33 last week. Early weaned pigs were posted at $80.48. The IA/MN sow weighted average was $50.60/cwt for 300-399 weight sows and $45.96/cwt for sows weighing 400-499 pounds.
Lamb
There was no National Sheep Summary report again last week. The cutout value was $3.30 higher last Friday at $460.15. Federally inspected harvest was estimated to be 31,000 head. This equaled both the total from the prior week and the same week last year. The average live weight of 121 pounds and carcass weight of 61 pounds is also the same as a year ago. Shorn lambs brought $150 -$178/cwt with some light lambs selling to $185/cwt.
