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
A quarterly Hogs and Pigs report will be released this week. The report is not expected to impact the hog market. Early estimates are for hogs kept for breeding to be 1% lower and for market hog inventory to be 1% higher than last year. The base carcass price paid last week was about 50 cents higher, averaging $90.34/cwt. Tuesday’s Cold Storage report showed frozen pork supplies were down slightly from the previous month and down 5% from last year. Packers may be interested in replenishing their stocks. Harvest numbers have moderated but are still about equal to last year. Last week’s estimate of 2.491 million hogs was 41,000 fewer than the previous week and 67,000 more than last year. Forty-pound feeder pigs were $1.30 higher last week, averaging $127.36/head. Weaned pigs were sharply lower, averaging $76.74/head.
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