Download PDF It was more of the same this week in the US hog and pork complex,with most hog and pork prices continuing to leak lower and thusforcing the futures traders to reconsider their pricing of the Deccontract. The cutout lost $1.75/cwt. on a weekly average basis andthe NDD negotiated hog market was down $1.88/cwt. …
Download PDF It was a another soft week for the US hog and pork complex. Thecutout fell $1.14/cwt on a weekly average basis and the negotiatedhog markets were also lower. In fact, something very unusualhappened in the negotiated markets today as the WCB cash priceactually fell below the National price. On a weekly average basis,the …
Download PDF The biggest feature in the hog and pork complex this week was asignificant softening in the negotiated hog market. The WesternCorn Belt market averaged right at $90/cwt this week, down over$7 from the week before. The NDD market was down $5.66/cwt.But before we declare the cash hog market dead, it is important torecognize …
Download PDF The main feature in this week’s market was the cutout dippingbelow the $100 mark for several days and averaging $2.86/cwt.less than last week. There were some interesting dynamicswithin the carcass and within the week however, starting with thesurprising bump higher in the belly market on Friday. Prior toFriday, the bellies had been trading …
Download PDF This week saw the pork cutout stall, averaging $102.46/cwt.,down $0.23/cwt. from last week’s average. A $102 cutout in lateOctober is pretty impressive, but what is even more impressive isthe renewed strength in cash hog prices. This week the WCBnegotiated market averaged $97.38, up $6.75 from the weekbefore. The NDD negotiated market was up …
Download PDF The pork cutout pressed higher for the second week in a row,averaging $102.68/cwt., up $2.59 from the week before. Almost all ofthis gain was accomplished on the back of the bellies and hams. Theretail primals were all steady to slightly weaker. While the pork wasgaining value, the hog market was slipping lower. The …
Download PDF After trending lower for the past couple of months, the pork cutoutmanaged a small gain this week, adding $0.57 to average justover the $100 mark. Cash hog markets were a little weaker, withthe WCB negotiated market dropping $1.74/cwt. on a weeklyaverage basis. With pork moving up slightly and cash hog pricesmoving lower, packer …
Download PDF The hairline cracks in pork demand started to grow a little biggerthis week. The pork cutout dropped $3.68/cwt. to average$99.53. That is the first sub-$100 cutout since the first week ofFebruary. As is typical, the negotiated hog market followed thecutout lower, and the NDD market lost $2.27/cwt. All of thathasn’t yet been reflected …
Download PDF This felt like a bad week for the hog and pork complex, but I’m notsure that the story the data are telling is as bad as the futuresmarket implies. Certainly, traders turned bearish in a big way,driving the front of the futures curve down $4-5/cwt this week.That action was precipitated by growing dark …
Download PDF This was a constructive week for pork packers. They managedto move the cutout higher while at the same time keeping somepressure on the cash hog market. That helped to restore theirmargins back to about $15/head, which is much more typicalfor this time of year than the negative margins that they postednear the end …