This week’s hog market data, compiled by Jaydee Smith, Swine Specialist at OMAFA, highlights key market trends and movements impacting the pork industry for the week ending December 13, 2024.
In the Ontario market, the 100% base formula price increased slightly to $214.57 per ckg, following a gradual downward trend over recent weeks. While this marks a decline from earlier months, it remains significantly higher than the previous year’s price of $164.99 for the same period. Average dressed hog weights stabilized at 107.29 kg, with a total of 119,805 market hogs sold, representing a 106% increase compared to the previous year. Weaned pig values held steady at $55.79, while feeder pig values reached $88.51 per pig.
Nationally, hog slaughter volumes showed a 2% year-on-year increase, with 440,721 hogs processed in provincial and federal plants. Manitoba’s calculated hog value decreased slightly to $222.56 per ckg, reflecting continued pressures from input costs and market conditions.
In the U.S. market, federally inspected slaughter numbers remained steady at 2.57 million, reflecting 95% of last year’s volumes. Early weaned pig prices saw an increase, with a weighted average of $65.47 per pig, while feeder pig prices remained high at $82.66 per pig. The USDA pork carcass cutout value rose to $93.31 per cwt, a positive indicator for pork demand.
The Ontario feed market showed slight increases in corn and soybean prices. Western Ontario feed corn rose to $246.71 per tonne, while soybean meal prices dipped to $509.50 per tonne, providing some relief for producers.
These trends indicate a dynamic market environment as the industry continues to adapt to economic pressures, changing demand, and seasonal shifts. For detailed insights, visit the full report on onswine.wordpress.com.
Key Takeaways:
- Ontario hog prices remain elevated year-on-year.
- Slaughter volumes and feed prices reflect resilience despite challenges.
- Rising early weaned pig and carcass values suggest strong market demand.
