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.
A Quarterly Hogs and Pigs report was released on Thursday, and analysis will be included in next week’s update. Pork production is expected to increase through next year, and the report is expected to confirm or negate that prediction. The price of feeder pigs has been coming down and could reflect a larger supply. Forty-pound feeder pigs averaged $90.73/head last week. They peaked at $127.36/head in March. Weaned pigs averaged $51.78/ last week. Their high came in late February when they averaged $99.70/head. Fed hog prices were higher last week with a carcass base price of $101.00/cwt. Overall, the cutout was 86 cents lower last week, averaging $95.59. The pork cutout was $3.06 higher last Friday, however, at $96.77. It is estimated that 2.371 million hogs were harvested last week, 22,000 fewer than the previous week and 29,000 more than the same week last year. The most recent weekly export sales report was disappointing for pork, although exports have been keeping a strong pace so far this year.
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