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
Cash hog prices were $1.28 lower last week with a base carcass price of $88.44/cwt. The cutout value was about $1 lower than the previous Friday at $101.95. Heavier hogs have pressured some primal prices. According to the September Hogs and Pigs report, harvest is expected to be even last year until the end of November, then run 2% lower December through next March. Last week’s estimated harvest of 2.583 million hogs was 1,000 fewer than the previous week and 69,000 fewer than last year. Beef prices have not managed to pull pork higher, although it will be important to watch for HPAI cases this winter. Rising poultry prices will lend support to pork. Forty-pound feeder pigs averaged $80.53 last week with early weaned pigs averaging $65.09.
