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Weekly Review: September Pork Exports Higher Than a Year Ago

by 5m Editor
21 November 2009, at 6:52am

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

Pork exports for September 2009 were up 3.8 per cent from 12 months earlier. Pork imports for September were up 16.3 per cent from a year earlier. All of the major pork exporters to the US showed substantial increases in their sales to the US in September.

Pork exports from the US for January-September were down 17.07 per cent from 2008. The big decreases in exports were to China-Hong Kong and Russia.

Pork imports for January-September were down 0.5 per cent from 12 months earlier. Net pork exports as a per cent of production declined from 17.42 per cent in 2008 to 14.07 per cent in 2009 for January-September.

Live hog imports from Canada for January-September were down 32.7 per cent from a year earlier. Feeder pig imports during September were down 26.5 per cent from last year and slaughter hog imports were down 50.3 per cent from 2008.

There is a high probability that the low-price month for 2009 will be August. If this comes true it will be the first time of record for August to be the low-price month of the year with the exception of 1945 with price controls during World War II.

Feeder pig prices at United Tel-o-Auction this week were $8-20 per cwt above two weeks ago. The prices by weight group at United this week were 50-60 pounds $72-82 per cwt and 60-pounds-plus $72.50 per cwt.

Feeder pig prices last week nationally were basically steady with a week earlier. The average price for 10-pound, 50-54 per cent lean was $35.30 per head. For 40-pound pigs, the average price was $40.06 per head. The formula price for 10-pound pigs was $37.43 per head and the formula price for 40-pound pigs was $55.52 per head. The cash or spot market price for 10-pound pigs was $34.00 per head and 40-pound pigs was $39.28 per head.

Live barrow and gilt weights in Iowa-Minnesota last week were down 0.9 pound per head from a week earlier at 270.4 pounds but up 2.8 pounds per head from a year earlier.

Retail pork prices in October were down 0.9 per cent from September and down 4.3 per cent from October 2008. Retail pork prices for January-October 2009 were up 0.6 per cent from a year earlier. The processor-wholesaler margins were down 5.5 per cent, and live hog prices for January-October were 17.4 per cent below 12 months earlier.

Pork carcass cutouts for Thursday afternoon at $56.94 per cwt was down $0.18 per cwt from a week earlier.

Live hog prices Friday morning were $1-2 per cwt lower compared to seven days earlier. The weighted average negotiated carcass price Friday morning were $1.13-2.56 per cwt lower compared to last week.

The top live prices Friday morning were: Peoria $34.00 per cwt, Zumbrota, Minnesota, $35.00 per cwt and interior Missouri $36.50 per cwt. The weighted average negotiated carcass prices Friday morning by area were: western Cornbelt $50.89 per cwt, eastern Cornbelt $49.36 per cwt, Iowa-Minnesota $50.82 per cwt and nation $49.83 per cwt.

Slaughter this week under Federal Inspection was estimated at 2322 thousand head, down 1.9 per cent from a year earlier.

There will be no letter next week due to the Thanksgiving Holiday.