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.
Lamb
Market lambs were steady to $20/cwt higher last week nationally. The net lamb carcass cutout value was $473.60, making it $1.09 higher than the previous Friday. Last week’s estimated harvest of 27,000 sheep and lambs was 7,000 fewer than the week prior and 5,000 head fewer than last year. July exports of U.S. lamb totaled 173 metric tons, which was 12% less than a year ago but still 13% higher in value at $1.05 million. July value growth was led by the Bahamas, Netherlands Antilles, and Mexico.
Hogs
The hog market was fully steady last week while the pork cutout value was 38 cents higher to average $96.27. Bellies showed weakness last week and continued to work lower at the open of this week. The estimated harvest last week was 2.327 million hogs, 102,000 fewer than the previous week and 82,000 more than the holiday shortened week last year. Farrow-to-finish hog producers found positive margins of $21 per head last week, down $10 from the previous week, according to the Sterling Pork Profit Tracker. Pork packers saw average profits of $21 per head, down $3.37 from the previous week.
Pork exports in July were higher than a year ago, led by a value record for shipments to Mexico. Mexico purchased $244.5 million of U.S. pork, 29% more than a year ago and the highest on record. Pork export value equated to $66.52 per head slaughtered in July, up 2% from a year ago. Exports accounted for 29.7% of total July pork production.
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