USA: Pork market review for week 44 from November 7, 2023

07.11.2023

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USA: Pork market review for week 44 from November 7, 2023

Photo is illustrative in nature. From open sources.

Adds

Lower cash values of hogs, lower wholesale pork prices and large weekly hog slaughters have added to market sentiment.

"We had a pretty good rally and (the market) was just about to pull back," said Doug Houghton, an analyst at Brock Associates.

CME December lean pork futures fell 1.525 cents to 71.750 cents a pound, retreating after rising to 73.625 cents, the contract's highest level since Oct. 6. However, the contract ended the week up 1.8%.

The CME lean hog price index, a two-day weighted average of cash market prices, fell to 76.84 cents per pound, the lowest since mid-May.

The U.S. Department of Agriculture (USDA) estimated U.S. hog slaughter last week, including Saturday's slaughter, at 2.677 million head, up 4% from the same period a year ago.

At the wholesale pork market, the government set the price for pork carcasses Friday afternoon at $87.28 per hundredweight, down 13 cents from the previous day.

You can learn more about the state of the pig market in the USA, as well as about prices for pigs and pork in the American (and not only) market in the weekly reviews of the meat market in Russia and in the world from Meatinfo.ru.

Weekly reviews are available free of charge as part of a subscription to monthly analytics of Russian meat markets.

Average price for pigs

Negotiated price

Price in slaughter weight

Price in live weight

On a national basis LM_HG203:

-price range ($)

- weighted average. price

-Change from the day before

-volume of sales

65.00-69.00

67.18