The national average negotiated carcass price for direct delivered hogs on the morning report today was $84.20/cwt, up 10 cents from last Friday and up $7.04 from a year ago. There were no negotiated prices reported this morning for the western corn belt or Iowa-Minnesota. The eastern corn belt averaged $84.09/cwt on today's morning report.
Peoria had a top live price today of $62/cwt. The top price Friday for interior Missouri live hogs was $60.75/cwt which was the same as the previous Friday.
This morning's hog carcass price averaged 90.7% of the cutout value.
Hog slaughter this week totaled 2.232 million head, up 0.6% from the week before, but down 4.9% compared to the same week last year. This was the 38th consecutive week with hog slaughter below the year-earlier level.
The average live slaughter weight of barrows and gilts in Iowa-Minnesota last week, 284.7 pounds, was down 1 pound from a week earlier, but up 3.5 pounds from a year ago. This is the closest the Iowa-Minnesota weight series has been to the year-earlier level since the week of October 5, 2013.
The December lean hog futures contract closed at $90.65/cwt, down $2.02 for the week. February hog futures ended the week at $90.45/cwt, down $2.30 from the week before. April hogs lost 90 cents this week to close at $92.95/cwt. The May contract ended the week at $94.80/cwt. June closed at $98.70/cwt.
Corn futures were lower this week. The December contract lost 9 cents this week to end at $3.7275 per bushel. March corn settled at $3.8525/bu, also 9 cents lower than the previous Friday. May corn futures settled at $3.9425/bu.
Source: AGEBB