Glenn Grimes & Ron Plain
University of Missouri - Columbia
Pork exports for August 2006 were up 8.8 percent from a year earlier. Exports to Japan in August were up 5.7 percent, the second month this year for an increase.
For January-August pork exports were up 12 percent from 12 months earlier. For the first eight months, pork exports to Japan were down 8.4 percent, to Canada up 5.6 percent, to Mexico up 21.1 percent, to Russia up 133.6 percent, to South Korea up 54.4 percent, to mainland China and Hong Kong up 7.8 percent, to Taiwan up 12.1 percent, to Caribbean up 95.5 percent and to other up 5.7 percent.
Our pork exports for January-August amounted to 14.4 percent of U.S. pork production. In the first eight months of 2006, the U.S. net pork exports amounted to 9.56 percent of production, up 1.39 percent of production from the same months of 2005.
Live hog imports from Canada in August were up 6.2 percent from a year earlier. Feeder pig imports for this month were up 17.5 percent and slaughter hog imports were down 14.3 percent from 12 months earlier.
For January-August live hog imports were up 8.9 percent from the same months of 2005.
Feeder pig imports were up 13.6 percent and slaughter hog imports were down 1 percent for the first eight months of 2006 compared to 2005.
Retail pork prices in September were up 1.1 percent from August, but down 2 percent from September 2005. Retail pork prices for January-September were down 1.2 percent from the same months last year.
Hog marketing margins were up 1.6 percent for January-September with the processor-retailer margin up 1 percent and the packer’s margin up 4.1 percent from 12 months earlier.
Live hog prices for September were up 0.6 percent from a year earlier. However, live hog prices for January-September were down 7.5 percent from a year earlier. The consumer of pork and marketers benefited from the lower live hog prices.
Live hog prices this Friday morning were steady to $2 per cwt. lower compared to a week earlier. Weighted average negotiated carcass prices Friday morning were $2.43 to $3.81 per cwt. lower compared to seven days earlier.
The top live hog prices for select markets this Friday morning were: Peoria $42 per cwt., St. Paul $41 per cwt., and interior Missouri $43.50 per cwt.
The weighted average negotiated carcass prices for Friday morning by market area were: western Corn Belt $60.09 per cwt., eastern Corn Belt $59.99 per cwt., Iowa-Minnesota $60.60 per cwt. and nation $60.05 per cwt.
Pork product prices Thursday afternoon this week at $65.63 per cwt. were down $3.93 per cwt. from a week earlier. Loins at $79.26 per cwt., down $1.03 per cwt., Boston butts down $6.18 per cwt. at $69.84 per cwt., hams at $63.19 per cwt., down $10.44 per cwt. and bellies down $1.39 per cwt. at $75.64 per cwt.
Slaughter this week under Federal Inspection was estimated at 2,213,000 head, up 1.0 percent from a year earlier.
This farm news was published in the Oct. 25, 2006 issue of Farm World, serving Indiana, Ohio, Illinois, Kentucky, Michigan and Tennessee.