USA: Week 15 Pig Market Review 2021

USA: Week 15 Pig Market Review 2021
Photo is illustrative in nature. From open sources.

As of April 16, 2021, the USDA reports that the average cost of pork products in the US market has fallen by $1.28. Over the past week, there was an increase in prices only for ham (+$7.12) and bacon (+$0.55).

 U.S. lean hog futures tumbled on Thursday due to the exchange's trading cap as profit-taking swept the market after a rally, analysts said.

The fall is a reversal from advances that boosted pig farmers' profits after they struggled last year when the covid-19 pandemic reduced restaurants' demand for MEAT and temporarily closed slaughterhouses.

Futures for May, June, July and August ended trading lower on Thursday. The underlying June futures contract settled on the Chicago Mercantile Exchange (CME) Thursday at 104,700 cents a pound. The contract is up 26% since the beginning of the year. CME will temporarily expand daily trading limits to 4.5 cents on Friday.

US weekly pork EXPORT sales were weak by Thursday. The USDA said sales of pork for 2021 delivery dropped to 17,200 tons in the week ended April 8, the lowest in a marketing year. This is down 48% from the previous week and down 60% from the previous four weeks average.

Average price for pigs

 

Negotiated price

Price in carcass weight

Price in live weight

National based LM_HG203:

-price range ($)

- weighted average. price

-Change from the day before

-volume of sales

101.30-108.50

104.49

+1.71

 

9185

75.00-80.00

77.02

-0.95

 

858

WEEKLY WEIGHTED AVERAGE PRICE FOR PIGS

Weekly approximate volume of slaughter of pigs, thousand heads

PORK PRODUCTION

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