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October Exports Lower Than Twelve Months Earlier

by 5m Editor
19 December 2009, at 9:14am

US - According to this week's review of the US hog industry, written by Glenn Grimes and Ron Plain, pork exports for October were down 3.5 per cent from 12 months earlier.

This indicates the stronger than expected live hog prices in October were not due to larger exports than a year earlier. Pork imports for October were up 2.7 per cent from 12 months earlier.

Pork exports for January-October were down 15.7 per cent from 2008. Our exports for January-October to Japan were down 4.2 per cent, to Mexico up 34.9 per cent, to Canada down 4.5 per cent, to South Korea down 35.2 per cent, to China-Hong Kong down 63 per cent, to Russia down 35.2 per cent, to Australia up 25.1 per cent, to Taiwan up 28.6 per cent, to Romania up 236.2 per cent and to other countries down 23.5 per cent compared to 12 months earlier.

Feeder pig imports for October were down 27 per cent from a year earlier. Slaughter hog imports from Canada for October were down 36.5 per cent from 2008.

Total live hog imports from Canada for January-October were down 32.3 per cent from a year earlier.

The value of pork exports per hog slaughtered for January-October in 2008 was $36.15. This declined to $31.47 for the same month of 2009. The value of pork and pork variety meat exports per hog slaughtered in 2008 was $42.52. The amount of the same period in 2009 declined to $37.84 per hog.

Nationally feeder pig prices last week were $1-4 per head higher than a week earlier. The average price for 10-pound pigs was $39.82 per head. Formula priced 10-pound pigs were $38.12 per head, and the spot or negotiated price for 10-pound pigs was $40.95 per head. The average price for 40-pound pigs was $47.55 per head. Formula priced 40-pound pigs were $56.53 per head, and the spot or negotiated price for 40 pound pigs was $47.04 per head.

Pork product prices were pushed higher again this week with the cutout Thursday afternoon at $70.72 per cwt, up $2.60 per cwt from a week earlier. Loin prices were sharply higher at $90.78 per cwt, up $13.58 per cwt Boston butts at $68.88 per cwt were down $0.81 per cwt, hams at $63.26 per cwt were down $10.49 per cwt and bellies at $75.78 per cwt were up $3.24 per cwt from seven days earlier.

United Producers Tel-o-auction this week was steady to higher than two weeks ago. Pigs weighing 50-60 pounds sold from $71-92 per cwt, 60-pound pigs sold for $85 per cwt and a group of 73-pound pigs sold for $79 per cwt.

Live hog prices Friday morning were $1-3 per cwt higher compared to a week earlier. Weighted average negotiated carcass prices Friday morning were $2.12 per cwt higher to $1 per cwt lower compared to seven days earlier.

The live prices for select markets were: Peoria $38 per cwt, Zumbrota, Minnesota, $40 per cwt and interior Missouri $44.50 per cwt. The negotiated carcass prices by area were: western Cornbelt $61.98 per cwt, eastern Cornbelt $61.44 per cwt, Iowa-Minnesota $61.99 per cwt and nation $61.64 per cwt.

Retail pork prices in November were down 2.2 per cent from October. For January-November retail pork prices were 0.1 per cent below a year earlier.

Barrow and gilt slaughter weights last week in Iowa-Minnesota at 268.5 pounds were down 1.4 pounds from a week earlier and only 0.2 pound above a year earlier.

Slaughter this week under Federal Inspection was estimated at 2,370 thousand head, down 0.1 per cent from 12 months earlier.