The latest hog market data reveals both opportunities and challenges across the Canadian and U.S. markets. Below are the highlights for producers to consider:
Canadian Market Overview
- Ontario Base Formula Price: Slight dip to $218.23/cwt compared to $221.16/cwt the previous week, but still significantly higher than the $157.69/cwt recorded the same week last year.
- Weaned Pig Value: Settled at $56.74/pig, while feeder pigs averaged $90.02/pig.
- Slaughter Numbers: Canadian hog slaughter totaled 263,158, maintaining a strong 106% of the previous year’s levels.
- Manitoba Hog Value: Increased to $229.87/cwt, reflecting strong regional demand.
- Canadian Dollar Value: Continued to decline, sitting at $0.6924 USD, compared to $0.7492 USD a year ago, providing a slight export advantage.
U.S. Market Trends
- Federally Inspected Slaughter: Estimated at 2.29 million, down 3% from the previous year.
- Early Weaned Pigs: Cash-based average surged to $82.00/pig, up from $76.72/pig the previous week.
- Feeder Pigs: Cash-based average climbed to $95.33/pig, reflecting robust demand.
- Pork Carcass Cutout Value: Slightly decreased to $90.87/cwt, yet remained above year-ago levels of $84.15/cwt.
Feed Market Insights
- Corn Prices: Settled at $4.51/bushel, with farm prices averaging $232.57/tonne for old crop corn.
- Soybean Meal: Increased to $533.09/tonne, contributing to higher feed costs.
Key Takeaways for Producers
- Pricing Trends: While prices are holding strong compared to 2024, the slight decline in key metrics signals potential volatility.
- Export Advantages: The weaker Canadian dollar continues to boost competitiveness in export markets.
- Input Costs: Rising feed costs remain a concern, with soybean meal leading the increase.
Producers are encouraged to monitor market dynamics closely and explore risk management tools to navigate the evolving landscape.
For more detailed data, visit onswine.wordpress.com.
