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
Hog prices were over $3 lower last week. Wholesale prices were under pressure as well. The pork cutout value was $104.42 last Friday, $3.88 lower than the previous week. Estimated harvest was 2.577 million, which was 25,000 fewer than the previous week and 6,000 fewer than last year. It is hard to point to any single reason for lower hog and pork prices, although live weights may be one factor influencing the market. The latest data reported hog weights at 6 pounds heavier than this time last year and 2 pounds heavier than the week prior. Even a small increase in weights causes more pork on the market. Export data has not been available during the federal government shutdown, making it difficult to get a clear picture of global demand.
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