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Weekly Hog Prices: Cash hog prices increased significantly across all markets as the counter-seasonal rally continues. National PM prices over the 5-day week averaged a gain of $5.69 US per cwt, although Friday-to-Friday values were only $3.40 higher as the market peaked mid-week and declined on Thursday and Friday. CME cash prices saw a weekly average increase of $2.64 but ended Friday over Friday up by $3.83 US/cwt. Wholesale pork primals continued their strong performance, ending $5.03 higher, over 5% above the previous week. The cutout closed the week at $103.97, marking the highest weekly price since early August.
Canadian Hog Prices: Higher Canadian hog prices persisted, supported by a robust U.S. cash hog market and a stronger Canadian exchange rate. ML Sig 4 posted a gain of $5.58 per hog from the previous week, Hylife recorded a $9.49 increase, and Olymel saw rises of $5.21 (OlyW21) and $4.56 (OlyW20). In the U.S., Tyson hogs experienced a significant gain of $9.59 per hog, while JM hogs increased by $11.96 US per hog.
Weekly Hog Margins: Canadian hog margins improved significantly as strong hog prices met stable feed costs. Western regions posted gains between $5 to $10 per hog, while eastern markets were up $8 to $10 per hog. Farrow-to-finish feed costs in Canada decreased slightly due to a dip in grain prices, though a higher exchange rate tempered these savings.
Ontario hog margins rose by $8.51 to reach $43.83 per hog, ML Sig 4 (MB) margins increased by $6.25 to $38.50 per hog profit. Hylife saw the greatest rise within the Canadian market, up $10.16 to $42.95 per hog, and OlyW20 margins rose by $5.88, while Quebec margins grew by $9.77 to $43.43 per hog. OlyW21 margins increased by $5.88, reaching $28.04 per hog profit. In the U.S., Tyson hog margins had another strong week, adding $10.28, while JM margins rose by $12.65, reaching $34.62 per hog profit.
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