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Pork product sales in Japan, Mexico show big promise

Pork exports in February 2009 were down 12.7 percent from 2008. For January and February, pork exports tonnage was down 10.8 percent in 2009 from a year earlier.

Pork imports for January and February 2009 were down 8.3 percent from 12 months earlier.

Our sales of pork in January and February to Japan were up 20.1 percent, to Mexico up 57.6 percent, to Canada down 9.8 percent, to South Korea down 22.4 percent, to Russia down 55.1 percent, to China and Hong Kong down 71.4 percent, to Australia up 72.8 percent, to Taiwan up 84.5 percent and to other countries up 2.7 percent from the same months in 2008.

Net pork exports as a percentage of pork production in 2009 at 13.7 percent were down from 14.8 percent in 2008.

Even though pork export tonnage and percent net export of production were down in 2009 from 2008, the value of pork exports per hog slaughtered was $29.96 in 2008 but up to $31.93 in 2009. Pork variety meats in January and February were also up from $4.41 per head in 2008 to $6.74 per head in 2009.

Japan was a big contributor to the increased value. Japan’s tonnage was up 20.1 percent but value was up 33 percent from a year earlier for January and February.

The average weight of barrows and gilts last week at 269.9 pounds was up 0.8 pound from a week earlier and up 3.5 pounds from a year earlier. It is very obvious that marketings are not as current as a year earlier. Live weights for barrows and gilts in Iowa-Minnesota have been above a year earlier since the week ending Jan. 17. Barrow and gilt carcass weights under Federal Inspection have been above a year earlier since the week of Jan. 24.

Pork product prices gained some traction this week with price increases through the week. The Thursday afternoon cutout at $61.91 per cwt. was up $2.97 per cwt. from a week earlier. Loins at $77.65 per cwt. were up $4.90 per cwt., Boston butts at $48.73 per cwt. were up $3 per cwt., hams at $48.75 per cwt. were up $6.15 per cwt. and bellies at $76.71 per cwt. were up $0.05 per cwt. from seven days earlier.

National weighted feeder pig prices last week were $1-2 per head higher. Early weaned pigs 10-pound basis averaged $35.44 per head. Feeder pigs 40-pound basis averaged $63.76 per head. It is quite obvious that we have a strong feeder pig market.

Top live barrow and gilt prices Friday morning were $0.75-1.50 per cwt. higher compared to a week earlier. Weighted average negotiated carcass prices were $4.03-4.94 per cwt. higher compared to seven days earlier.

The live prices for select markets Friday morning were Peoria $36 per cwt., Zumbrota, Minnesota, $39 per cwt. and interior Missouri $40.25 per cwt. The weighted average negotiated carcass price Friday morning by areas were: western Corn Belt $59.06 per cwt., eastern Corn Belt $57.67 per cwt., Iowa-Minnesota $59.61 per cwt. and nation $58.71 per cwt.

Slaughter under Federal Inspection this week was estimated at 2.122 million head down -8.5 percent from a year earlier.

The views and opinions expressed in this column are those of the author and not necessarily those of Farm World. Readers with questions or comments for Ron Plain may write to him in care of this publication.

4/22/2009