During the same ten weeks, hog slaughter was up 5.2%, but sow slaughter, adjusted for increased sow imports from Canada, was up only 1.7%. That would seem to imply rapid breeding herd growth, but our gilt slaughter data shows a higher percent of gilts in the barrow-gilt slaughter mix. The other important factor is just how much of the slaughter increase is due to lower death loss.
Friday morning's pork cutout value was $67.52/cwt FOB the plants. That is down 22 cents from the week before and down $63.52 from a year ago. This is the ninth consecutive week with a lower cutout value.
Thursday's negotiated carcass price for plant delivered hogs averaged $57.89/cwt which is $2.75 lower than a week earlier and $64.71 lower than a year ago.
Because of low sales volume and confidentiality rules, there were no national or regional negotiated hog carcass price reports this morning.
Peoria had a top live price today of $37/cwt, $3 lower than seven days ago. The top price Friday for interior Missouri live hogs was $42.25/cwt which is down $3.50 from the previous Friday.
Hog slaughter this week totaled 2.237 million head, up 0.4% from the week before and up 9.8% from same week last year. Hog slaughter has been above the year ago level for the last nine weeks.
The average live slaughter weight of barrows and gilts in Iowa-Minnesota last week was 284.0 pounds, down 0.2 pound from the week before, but up 1.0 pounds from a year ago.
Hog futures were sharply lower again this week. The April lean hog futures contract closed today at $58.45/cwt, down $3.65 for the week. May hog futures ended the week at $68.27/cwt, down $3.15 from the week before. June hogs lost $1.57 this week to close at $73.85/cwt.
The May corn futures contract ended the week at $3.85/bu, up 11 cents for the week.
Source: AGEBB