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 lower last week with the cutout value losing $1.85 to average $100.51. Late week strength in the cutout was noted, however. Estimated harvest for the week was 2.281 million hogs, 9,000 more than the previous week and 77,000 fewer than a year ago. Pork exports totaled 224,822 metric tons in June, down 6% from a year ago, with value falling 9%. Muscle cuts exports were modestly lower, but most of the decline was due to a 21% drop in pork variety meat exports. As USMEF previously reported, Colombia and Mexico suspended imports of U.S. pork offal at the beginning of May, and this situation was not resolved until early July for Colombia and mid-July for Mexico. Pork export value equated to $59.49 per head harvested in June, down 13% from last year’s high average.
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