Download PDF Things continued on an upward trajectory this week in the hog and porkcomplex as the negotiated hog markets averaged about $2.50/cwthigher and the cutout managed to eeek out a $0.80 gain. The notableevent of the week was a sharp drop in the futures on Thursday withoutany significant change in the fundamentals. The Jul …
Download PDF The hog and pork complex continued to work higher this week, andit definitely felt like a lot of work. The NDD negotiated market wasup $1.48/cwt through Thursday and the cutout was up $1.43/cwt.Traders got a bit of a scare on Wednesday when the belly primalprinted sharply lower, but it bounced back on Thursday, …
Download PDF Things got a little more uncomfortable for pork packers this week withthe cutout declining and the price of cash hogs rising. On a weeklyaverage basis, the cutout dropped $1.91/cwt this week and the WCBnegotiated market was up $2.88/cwt. By my calculation, that pushedpacker margins a little more than $1 into the red. Negative …
Download PDF The hog and pork complex continued along its upward path this week, with the cutout adding $2.45/cwt on a weekly average basis and the NDD negotiated hog market gaining $3.15. Negotiated hog prices are rising because of the seasonal tightness in the hog supply that is causing packers to have to dig a …
Download PDF Negotiated cash hog markets improved a little bit this week, withthe WCB up $1.46 and the National market quote up $0.86. TheLean Hog Index added $3.32 to average a hair over $104. Mostof that gain was due to the delay in the previous week’s strongercutout and cash hog pricing flowing into the index. …
Download PDF The pork cutout rebounded this week, gaining $2.80/cwt to average$103.57. That is still a bit below the $106 average that hascharacterized the pork market since the middle of February, but doeshelp erase some of the bearishness that was prevalent the weekbefore when the cutout dipped below $100 and thus enabled the Maylean hog …
Download PDF After months of being stuck at roughly $105, the pork cutout finallymoved lower this week, averaging $100.77. A downturn in hamprices combined with already soft belly prices to take $4.62 off of thecutout this week. While the cutout was moving lower, cash hog priceswere moving higher. The WCB cash market added $2.42 this …
Download PDF It was steady-as-she goes again this week in the pork complex. Thecutout averaged a mere $0.20/cwt higher than last week and the NDDcash hog market gained $0.29/cwt. That is about as boring as it gets forhogs and pork. The one little piece of excitement was a futures rally onTuesday and Wednesday in response …
Download PDF The pork market got back on its downward trajectory this week, with the cutout dropping $4.13/cwt to average $105.18. Cash hog markets were higher, with the WCB negotiated market rising $2.81 and the NDD up $0.86. The LHI gained almost $1 to $102.20. Hogs up and pork down is a bad combination for …
Download PDF Last week, I said it was important that we see the cutout hold on to itsgains. It managed to do that this week, but it didn’t add very much.The cutout was up $1.10 on a weekly average basis and the attachedchart shows that all of the primals contributed a little bit to this …