The following report was prepared and written by Jeff Swenson, DATCP’s livestock and meat specialist. This report draws information from several sources, including trade publications, radio broadcasts, agricultural news services, individuals involved in the industry as well as USDA reports. Edited by Mid-West Farm Report.
Pork
Cash hog prices were higher for the second week in a row. The pork cutout has moved higher each of the last three weeks. Last week’s value averaged $88.02, up $2.65 from the previous week, but was showing weakness by the middle of this week.
Last week’s estimated harvest of 2.652 million was 478,000 head more than the week before and 111,000 fewer than a year ago. The larger harvest run is a result of packers working through hogs backed up by the holidays and winter weather events. This week’s pace was running behind last year through mid-week.
It is worth mentioning that there is disagreement over the number of hogs on feed. Hog weights will indicate how current the hog supply is as weekly harvest totals continue to draw attention.
Lamb
Traditional market lambs were called $4/cwt lower last week while light lambs. Others were $10 to $30/cwt higher. The cutout was higher last week, gaining $2.76 for a net value of $466.08 last Friday. That is still over $8 lower than the beginning of the year.
Harvest was estimated at 33,000 sheep and lambs last week, 2,000 head below the previous week and 1,000 more than a year ago.
Market lambs were heavier $165 to $200, with a few higher.
