Pork Wrap

Pork Wrap July 23

Download PDF The negotiated hog markets were lower this week, with the NDDmarket dropping over $3 and the WCB off a little more than $5.The cutout, meanwhile, added about $2.50 on a weekly averagebasis. That helped move packer margins back up to $15/head andit is beginning to feel like packers are in control again after …

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Pork Wrap July 16

Download PDF Prices in the hog and pork complex firmed up this week, with the cutoutgaining a little over $3 and the LHI up a little over $1 on a weeklyaverage basis. It seems as though all of the doom and gloom thatcharacterized this market a couple of weeks back has now faded. Porkbuyers backed …

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Pork Wrap July 9

Download PDF The pork cutout looks like it will eek out another small gain thisweek, probably less than $1 on a weekly average basis. Verylight production as a result of the July 4th holiday is helping tosupport the cutout currently. Packers are not planning a verylarge Saturday kill this week, which is a reflection of …

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Pork Wrap July 2

Download PDF A couple of weeks ago when the futures market was crashing lower,pork buyers headed for the hills. As they backed away from themarket, the cutout fell like a rock and it even printed close to $107only a little over a week after it printed $135. At the time, thatseemed like too much, too …

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Pork Wrap June 25

Download PDF What a wild week it has been in the hog and pork complex. It hasbecome abundantly clear that the cutout has finally turned downwardafter six month of moving almost straight up. The chart belowindicates that it is primarily the loins and bellies that have pushed thecutout lower. However, the bellies appeared to bounce …

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Pork Wrap June 11

Download PDF The hog and pork complex continued higher this week with thecutout adding $3.74 on a weekly average basis and the WCBnegotiated market up a whopping $9.40. Packer margins clocked inat $28/head, down $2 from last week. That margin will shrink furtheronce the full impact of the rapid rise in the negotiated hog marketsgets …

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Pork Wrap June 04

Download PDF The JBS cyberattack and subsequent processing difficultiesaffected the pork industry in addition to the beef industry.Tuesday’s kill dropped to 390k, down about 95k from recentnormal weekday kill levels. As with beef, this sent pork buyersscrambling to find product and the cutout moved higher. As ofThursday night, the cutout was up about $6 on …

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Pork Wrap May 28

Download PDF It was more of the same this week in the hog and pork complex—porkprices rising and hog prices falling. The WCB negotiated cash hog pricefell a little over $3 on a weekly average basis, while the pork cutoutadded $6.59. That means packer margins, which had already been onthe rise, shot higher. I calculate …

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Pork Wrap May 21

Download PDF Pork packers have done a superb job of reclaiming their margin after italmost went to zero three weeks ago. They figured out that all theyneeded to do was to cut the Saturday kill down to almost nothing andsuddenly their margin began to improve. This week it stands at $11/head, which is outstanding for …

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Pork Wrap May 14

Download PDF The pork cutout inched a little higher this week, adding $1.56 on aweekly average basis. In the cash hog market, the WCBnegotiateds added only $0.33/cwt, while the LHI was up $2.25.The bigger gain the LHI compared to the negotiated market reflectssome catching up that the LHI needed to do following last week’sstrong rally …

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