The latest hog market data for the week ending August 9, 2024, reveals mixed trends across the Ontario, Canadian, and U.S. markets:
Ontario Market:
- The 100% Base Formula Price saw a slight dip, closing at $231.22 per ckg.
- Average dressed weight increased to 105.75 kg.
- Weaned pig value reached $60.12, and feeder pig value was at $95.38.
- The number of market hogs sold increased by 4% compared to the previous year.
Canadian Market:
- The Quebec Pool Price dropped slightly to $222.60 per ckg.
- The value of the Canadian dollar showed a slight improvement to $0.7282 USD.
- Hog slaughter numbers remained stable, aligning with the previous year’s figures.
U.S. Market:
- Federally inspected slaughter numbers were steady at approximately 2.37 million hogs.
- Sow slaughter saw a significant decline, down by 10.1% compared to last year.
- The CME Constructed Price closed at $92.71 per cwt, while the USDA Pork Carcass Cutout Value decreased to $100.49 per cwt.
Feed Market:
- Corn and soybean prices continued to soften, with Chicago corn at $3.7675 per bushel and soybeans at $10.0250 per bushel.
- Soybean meal prices eased to $630.20 per tonne.
These insights reflect the ongoing challenges and fluctuations in the swine industry, emphasizing the need for producers to stay informed and adaptable in these dynamic market conditions.
