Download PDF Late last week the pork cutout posted a sharp drop and, while it didn’t drop much further this week, it didn’t go up any either. As a result, the pork cutout was down $4.92/cwt on a weekly average basis. The week the cutout averaged $80.97/cwt and when it was at that level back …
Download PDF The dam finally broke in Lean Hog futures this week, sending prices cascading lower and forcing market participants to come to grips with the fact that pricing in the summer of 2023 isn’t going to be anywhere near what they saw in 2022. Coming into the week, the Jun contact was priced near …
Download PDF It was another good week for pork prices as the cutout added $2.22/cwt to average $87.64/cwt. Given how little the cutout has moved so far this year, any time that we get a move over $2, I would consider that constructive. The negotiated markets were about as flat as they could be with …
Download PDF After last week’s solid move higher in the cutout, this week it was back to the same-ole, same-ole with the cutout only adding a measly $0.39/cwt on the week. It was a similar situation in the negotiated hog markets where the WCB gained $0.32/cwt and the NDD was up $0.61/cwt. Packers got caught …
Download PDF This week the pork cutout finally got some lift, rising $3.09 to average just a hair over $85/cwt. The boost was largely driven by gains in the hams and bellies, which could signal that processors are beginning to see better demand for their products. The cash hog market was a bit lethargic, with …
Download PDF The pork market gained just a bit more upward momentum this week as the cutout averaged $81.94, up $1.76. However, the negotiated hog markets did not gain nearly as much as they did the week before. The WCB negotiated price added only $0.94/cwt this week and the NDD market was up $0.78. Packers …
Download PDF Finally there was some substantive movement in prices, but unfortunately for packers it was the prices on the wrong end of their profit equation that were increasing. The WCB negotiated market added $4.50/cwt. on a weekly average basis and the NDD market gained $3.77/cwt. The pork cutout?—it gained a mere $0.17/cwt. In the …
Download PDF If there is one thing about the hog and pork complex so far in 2023, its that prices have shown an amazing lack of volatility. Take the cutout, this week it managed to gain $0.05/cwt. Not exactly an exciting time series. The LHI gained almost six times as much as the cutout at …
Download PDF A glimmer of hope came to the hog and pork complex this week as both the cutout and negotiated hog markets posted a tiny increase. The cutout added $0.86/cwt. on a weekly average basis and the WCB negotiated price gained $0.47/cwt. Market participants are trying to discern if this is the true bottom …
Download PDF Pricing in the hog and pork complex was softer yet again this week, with the cutout dropping $2.05/cwt. and the WCB cash market down $2.54/cwt. It is not surprising that the market buckled a bit under the weight of last week’s huge 2.68 million head kill. This week the kill registered 2.53 million …