The following article was 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.
Cash hogs were $1.25 lower last week. The cutout value fell below the $212 level of support to average $109.91, a decrease of $3.11. It begs the question whether pork prices will follow fluctuations in the beef market through the fall.
National Daily Hog and Pork Summary and Weekly Pork report are still being published during the federal government shutdown. Both reports include cutout data. UDSA’s Agricultural Market Service is not mandated to publish cutout data, but it is an important tool in price hogs since just 1.5% of all hogs in the U.S. are sold by negotiated sales. Hog supplies are growing as expected heading into fall.
Last week’s estimated harvest of 2.602 million was 72,000 more than the previous week and 4,000 head fewer than a year ago. This week’s harvest is expected to outpace both last week and last year. The average price of 40-pound feeder pigs last week was $79.34/head, with early weaned pigs averaging $61.77/head.
