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 …
Download PDF Packers ramped things up in a big way this week, producing a huge kill that caused the cutout to struggle. On a weekly average basis, the cutout was down $3.89/cwt. to $81.15. The cutout has now lost almost $8/cwt. over the first two weeks of January. Cash hogs came under pressure as well, …
Download PDF The pork cutout lost another $3.81/cwt. this week as both bellies and hams failed to gain any traction following the holidays. If the cutout is losing $4 this week after three short kill weeks, it is somewhat scary to think what might happen when kills balloon back to normal next week. Futures traders …
Download PDF The holidays and last week’s weather forced a kill slowdown by pork packers and that had the effect of improving their margins. The cutout gained $2.51/cwt. on a weekly average basis and the WCB negotiated cash market dropped almost $4.50/cwt. That pushed packer margins up to about $17/head—the largest since early October. Pork …
Download PDF The hog and pork complex was affected by the same holiday and weather disruptions that plagued the cattle and beef complex this week. Nasty winter weather doesn’t have as big of an impact on hogs as cattle because the hogs are raised indoors in heated facilities, but it does affect transportation of the …