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 hogs were 77 cents lower last week and the pork cutout was $2.50 lower to average $92.10. Forty-pound feeder pigs were $7.80 higher/head, averaging $103.92, with early weaned pigs averaging $77.78 for an increase of $2.50/head. Last week’s estimated harvest was 2.683 million, 455,000 more than New Year’s week and 149,000 more than last year. Pork exports in October were 5% higher than a year ago, with value 7% higher. Both volume and value were the largest since March. Shipments to Mexico logged a record high. October pork export value equated to $64.44 per head harvested, up 8% from a year ago. Exports accounted for 28.8% of total October pork production and 25.6% for muscle cuts.
