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Weekly Review: Feeder Pig Prices Up

by 5m Editor
12 September 2009, at 11:41am

US - Weekly review of the US hog industry, written by Glenn Grimes and Ron Plain.

Feeder pig prices this week at United Tel-o-auction were $4-6 per cwt higher than two weeks earlier. All weighed between 50-60 pounds and sold from $34-43 per cwt.

Nationally feeder pigs last week were $1-2 per head higher than a week earlier. The average price for 50-54 per cent lean, 10-pound pigs was $20.62 per head. The average price for 40-pound pigs, 50-54 per cent lean was $13.98 per head. The formula price for 10-pound pigs was $31.66 per head, and the formula price for 40-pound pigs was $39.06 per head. The spot market price for 10-pound pigs was $10.12 per head, and the spot price for 40-pound pigs was $14.22 per head. There were big time losses for pig producers selling on the spot market.

The weight of barrows and gilts in Iowa-Minnesota for the week ending September 5 at 267.4 pounds per head was up 0.4 pound from a week earlier and up eight pounds per head from a year earlier. The average weight of barrow and gilt carcasses under Federal Inspection for the week ending 29 August at 197 pounds per head was up five pounds per head from 12 months earlier.

Sow slaughter for the week ending 29 August was a little below a year earlier in actual numbers but when adjusted for the shrinkage in the sow herd it was 2.5 per cent above a year earlier. This is the third consecutive week with sow slaughter above a year earlier. Gilt and sow slaughter for the last few weeks suggest producers may have sped up the reduction in herd size.

Pork cutout this Thursday afternoon at $55.07 per cwt of carcass was up $1.38 per cwt from a week earlier. Loins at $72.96 per cwt were up $8.64 per cwt, Boston butts at $58.24 per cwt were up $1.79 per cwt, hams at $41.93 per cwt were down $6.24 per cwt and bellies at $66.08 were up $3.95 per cwt from seven days earlier.

The corn and bean crop continues to progress in good condition. This week's corn condition was rated as 69 per cent good to excellent, up eight points from last year. Soybeans rated 68 per cent good to excellent, up 11 points from last year. We will have the September estimate of corn and bean production in 2009 next week.

Live hog prices Friday morning were $0.75-3.00 higher compared to a week earlier. Weighted average negotiated carcass prices Friday morning were $0.16 lower to 1.74 per cwt higher compared to seven days earlier.

The top live prices Friday morning were: Peoria $28 per cwt, Zumbrota, Minnesota, $32 per cwt and interior Missouri $34.25 per cwt. The weighted average negotiated carcass prices Friday morning by area were: western Cornbelt $49.76 per cwt, eastern Cornbelt $46.85 per cwt, Iowa-Minnesota $49.70 per cwt and nation $47.73 per cwt.

Slaughter this week under Federal Inspection at 2050 thousand head was down substantially because Labor Day was a different week this year than in 2008.

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