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
Cash hogs were $1 higher last week, and the cutout has seen positive undercurrents. The cutout value averaged $98.62 last week, making it $1.20 higher. There seems to be resistance at the $99-$100-dollar level this week. Rising gas prices could cause some consumers to substitute other proteins for higher priced beef. Protein substitution has been talked about for two years, but it is something that hasn’t happened in earnest yet. Hog weights have been relatively steady so far this year, averaging 292 pounds last week. That compares to 290 pounds last year. Estimated harvest last week was 2.497 million hogs, 19,000 fewer than the previous week and 96,000 more than the last year. Pork production year-to-date is trailing 2025 by less than 1% while hog harvest is also less than 1% lower than last year. Net pork exports set a marketing-year low during the period from February 27-March 5, 2026. Net sales of 23,700 metric tons were 34% lower than the previous week and 30% lower than the prior four-week average. Forty-pound feeder pigs averaged $123.11 with weaned pigs averaging $93.23, making them both about $2 lower per head.
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