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.
Pork
Pork had a week like beef in that wholesale prices and the cash market were both lower. Hogs were 75 cents lower for the second consecutive week with the pork cutout averaging $97.52, making it $4.07 lower. Bellies had the biggest losses. Pork prices averaged $4.92/pound in October, 0.7% lower than September and 2.4% lower than last year. Pork exports were down noticeably last week with sales of 19,800 metric tons reported. The total was 12% lower than the previous four-week average. Packers stepped up production this week ahead of the short work week ahead.
Lamb
The lamb market was mixed last week with prices reported anywhere from steady to $10/cwt lower. The cutout value was $4 higher at $469.65 and that is about $1 higher than this time last year. Last week’s estimated harvest was 36,000 head, making it 1,000 fewer than the previous week and 5,000 fewer than the same week last year. Shorn lambs brought $140-$160/cwt.