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 …
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 …
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 …
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 …
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 …
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 …
Download PDF The cutout turned back higher this week, adding $3.36 on a weekly average basis. Cash hogs also moved higher, with the WCB negotiated market up $4.68. The turnaround in the cutout was helped along by some modest improvement in belly prices, which had been a source of softness over the last couple of …
Download PDF Something changed this week in the hog and pork complex. For once,everything did not move higher. The pork cutout dropped nearly $5 on aweekly average basis. That drop was driven almost exclusively by weakness in the belly primal, which lost $34 this week and is now at its lowest level since early February. …
Download PDF As usual, both pork prices and hog prices moved higher this week.The cutout was up $2.25 on a weekly average basis while the WCBnegotiated market was almost $6 higher. That was enough tomove packer margins down below $15/hd and those margins willget even smaller next week when the full brunt of the cutout …
Download PDF The pork cutout was about a dollar higher on an average basis this week, but the negotiated cash hog markets were almost $2 higher. That compressed packer margins down to a little under $16/head. The lean hog futures were volatile this week and the most active Jun contract lost almost $7 on the …