Weekly Hog Prices
Cash hogs were mostly lower to start the week with select markets picking up strength Thursday limiting losses. CME cash was narrowly higher ending the week within 50 cents of the prior Friday’s close. Wholesale pork primals were also extremely steady on the week with US pork cutout down only $0.08/cwt over the previous 5 days.
Canadian hog markets were mostly lower week over week with most regions recording losses between $2.00-$3.00 per hog with the exception of BP/TC which only edged lower due to the week lag in pricing. ML Sig 4 dropped nearly $4.50/hog, Hylife recorded a decline of $1.47 and Olymel prices were both lower by $3.00 (OlyW21)and $1.89 (OlyW20). In the US, Tyson hogs gained $1.51/hog while JM hogs edged lower by $0.50/hog adding to recent weakness in the Midwest market.
Weekly Hog Margins
Monitored Canadian hog margins were lower by the end of the week with most Western regions recording seasonal declines of $2-$4 per hog while Eastern markets were lower from $1.30 to $3.10 per hog. Canadian farrow-to-finish feed costs increased fractionally by only $0.34/hog as losses in the grain sector were offset by slight gains in the protein markets which was the opposite from the week prior. Hog margins seasonally tend to decline thru the 3rd and fourth quarter impacted more by lower hog prices versus changing feed values.
Ontario hog margins were lower down $3.10 to $33.42/hog, ML Sig 4 margins were down $3.83 to $33.46/hog profits. Hylife margins slipped $2.08 to $28.56.64/hog profits and OlyW 20 hog margins weakened $2.23 to $33.59/hog profits, while Quebec hog margins were the least impacted this week down $1.38 to $26.30 per hog. OlyW 21 weakened $3.34 to $23.64/hog profits. In the US, Tyson hog margins gained $1.32 to $32.96/hog profits while JM margins were slightly lower by $0.70 at $24.48/hog profits.
