Weekly Hog Market Facts Summary (Week Ending July 12, 2024)

By
Jim Eadie
-

Ontario Market:

  • Base Formula Price: Decreased from $227.46 (June 14) to $218.33 per ckg.
  • Previous Year’s Price: $238.86 per ckg.
  • Average Price: $255.12 per ckg.
  • Low Price: $231.70 per ckg.
  • High Price: $278.50 per ckg.
  • Weekly Average Dressed Weight: 104.25 kg.
  • Market Hogs Sold: 86,834, 94% of the previous year.
  • Weaned Pig Value: $56.77 per pig.
  • Feeder Pig Value: $90.06 per pig.

Canadian Market:

  • Prime Interest Rate: Steady at 6.95%.
  • Hog Slaughter: 408,700, 98% of the previous year.
  • Quebec Pool Price: $195.77 per ckg.
  • Manitoba Calculated Hog Value: $232.81 per ckg.
  • Canadian Dollar Value: $0.7338 USD.

U.S. Market:

  • Federally Inspected Slaughter: 2,386,000, 102% of the previous year.
  • Sow Slaughter: 63,314, -5.5% change from the previous year.
  • Early Weaned Pigs (Weighted Avg.): $25.97 per pig.
  • 40 Pound Feeder Pigs (Cash Based Avg.): $45.43 per pig.
  • CME Constructed Price: $88.50 per cwt.
  • USDA Pork Carcass Cutout Value: $95.85 per cwt.

CME Lean Hog Futures (Closing Price):

  • July 2024: $88.70 per cwt.
  • August 2024: $88.45 per cwt.
  • October 2024: $70.15 per cwt.
  • December 2024: $62.38 per cwt.
  • February 2025: $67.50 per cwt.
  • April 2025: $74.05 per cwt.
  • June 2025: $87.88 per cwt.
  • July 2025: $88.80 per cwt.
  • August 2025: $88.65 per cwt.

Ontario Feed Market:

  • Chicago Corn (Sep ’24): $4.02 per bushel.
  • Chicago Soybeans (Aug ’24): $11.05 per bushel.
  • Soybean Meal (Hamilton): $599.45 per tonne.
  • Old Crop Corn (Farm Price): $203.14 per tonne.
  • Western Ontario Feed Corn: $224.30 per tonne.
  • New Crop Corn (Farm Price): $204.62 per tonne.
  • DDGS (FOB Sarnia/Aylmer): $205.00 per tonne.

U.S. Weekly Imports by State of Entry from Canada:

  • Feeder Pigs: 85,440 (North Dakota: 60,562; Michigan & New York: 20,168).
  • Market Pigs: 29,921 (Montana, North Dakota & Idaho: 2,395; Michigan & New York: 27,466).
  • Sows & Boars for Slaughter: 5,980.

This summary provides an overview of the key market statistics and trends for the week ending July 12, 2024. For detailed data sources and explanations, refer to the “Notes for the Weekly Hog Market Facts” on the Ontario Swine website.

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