The hog market continues to mirror sturdy tendencies in each pricing and provide, with regular demand throughout Canada and the U.S. Right here’s a breakdown of key updates from this week’s report:
Ontario Market Traits
- Base Method Worth: $220.46/cwt (↑ from $216.08 final week, vital improve from $179.94 final 12 months).
- Common Dressed Worth: $250.36/cwt.
- Market Hogs Offered: 122,306 head, 7% greater than final 12 months.
- Weaned Pig Worth: $57.32, reflecting an increase in feeder pig valuations at $90.94 per head.
Canadian Market Insights
- Quebec Pool Worth: $214.78/cwt (↑ from $210.84).
- Manitoba Hog Worth: $224.89/cwt (regular improve).
- Hog Slaughter: 428,150 head, up 2% from final 12 months.
- Canadian Greenback Strengthens: Closing at $0.6994 USD, up from $0.6904 final week, which may influence exports.
U.S. Market Updates
- Federally Inspected Slaughter: 2.54 million head, down 3% from final 12 months.
- Sow Slaughter: 60,089 head, reflecting a drop of 14.9% from final 12 months.
- Early Weaned Pig Costs: Weighted common of $78.87 per head (combined actions in components vs. cash-based pricing).
- CME Lean Hog Futures:
- February 2025 closed at $87.25/cwt (up from $84.18 final week).
- April 2025 contracts at $92.15/cwt, displaying sturdy market confidence.
- USDA Pork Cutout Worth: $95.01/cwt, persevering with a optimistic development from final week.
Key Takeaways:
- Ontario’s market stays sturdy, with continued worth will increase.
- Sow slaughter is down, reflecting potential herd retention or decrease culling charges.
- U.S. slaughter is barely down, however pork cutout values are rising.
- Futures pricing stays bullish, indicating optimism in demand and pricing by way of mid-2025.
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