Weekly Regional HOG PRICE Report

Things to Consider…

             US retail pork prices in January were primarily higher on the month, excluding chops, and held above year-ago prices. Bacon prices improved +1.9% to $7.04/lb which is up +6.5% over last year, while chops fell -1.4% in the latest data to $4.25/lb but is +0.3% over year-ago prices. Retail hams edged +0.1% higher to $4.41/lb from the previous month and is up only slightly compared to a year earlier, while the category accounting for all other pork climbed +1.3% from December prices to $3.70/lb and brings the category +2.7% over year-ago prices. Monthly wholesale pork values were mixed from December into the first month of the year, however US pork cutout for the month of January ended -2.5% lower on the month to $97.73/cwt but up +4.7% over year-ago values. Wholesale hams dropped -18.1% from December however the latest month's values are +6.3% above a year earlier, while picnics fell -16.0% on the month and is -2.7% under year-ago values and butts slipped -0.8% from December but is +5.7% over last year. Wholesale loinds edged +0.2% higher from the previous month but is down -2.7% on the year, while ribs improved +4.9% from December and is +17.0% over year-ago values and wholesale bellies jumped +16.9% in January and is +8.3% over last year.

             US retail beef prices varied on the month for January however were recorded above year-ago prices. Uncooked ground slipped -0.7% lower to $5.82/lb which is +6.3% over last year while roasts were nearly unchanged at $7.72/lb bringing them +6.2% over a year earlier. Beef steaks were up +2.6% to $10.91/lb which is up +2.0% compared to a year earlier, while the category accounting for all other beef (not veal) prices edged -0.3% lower to $6.93/lb and is up a modest +0.1% over year-ago prices.  Wholesale beef values improved overall in January with choice cutout rising +4.6% to $330.26/cwt and +13.6% over a year earlier, while select cutout jumped +10.7% on the month to $314.06/cwt and up +13.9% over last year.

             US retail broiler prices at $2.43/lb for January dipped -0.3% lower on the month but is a modest +0.1% over a year earlier, while wholesale broiler values for the same period climbed +0.3% from a month earlier to $1.11/lb which is +15.0% over last year.

  March 25, 2025

 
  


Weekly Hog Price Recap

US cash hogs finished lower overall despite some mid-week improvements with Wednesday alone generally rising $2.75-$3/cwt, with both regional WCB and national cash down $0.92/cwt from the previous week's averages to $89.03/cwt while the ISM fell $0.71 to $89.30/cwt. CME cash was also primarily lower and finished $0.48 lower to an average of $89.22/cwt. Wholesale pork primals were mixed with lower bellies, ribs and picnics weighing US pork cutout -0.8% or $0.77 lower to $96.24 US/cwt from a week earlier.



Canadian hog prices generally fell $1-$3 per hog on the week. Ontario hogs dropped $3.05/hog, followed by hogs out of Manitoba with the Sig 4 down $2.80/hog and Hylife down $2.55/hog. Quebec hogs fell $1.50/hog and the OlyW 21 R2 declined $1.20/hog, while BP4/TC4 was $0.75/hog lower and the OlyW 20 edged $0.50/hog lower. In the US, Tyson hogs climbed $0.25/hog higher while JM hogs fell $1.90/hog from the previous week.

Weekly Hog Margins

Monitored Canadian hog margins weakened on lower hog values with feed again attributing very little to overall moves. Farrow-to-finish feed costs on either side of the CAN/US border slipped $0.13/hog from a week earlier.

OlyW 20 hog slipped $0.45 to $55.10/hog profits, followed by margins out of Ontario which weakened shy of $3 to $53.25/hog profits. ML Sig 4 hog margins fell $2.70 to $50.50/hog profits out of Brandon and $46.35/hog profits out of Lethbridge, while Hylife margins were down $2.45 to $47.60/hog profits. Hog margins out of Quebec weakened $1.40 to $40.70/hog profits, while OlyW 21 margins fell $1.05 to $38.10/hog profits. In the US, Tyson hog margins improved $0.40 to $59.05/hog profits while JM margins weakened $1.80 to $47.65/hog profits.
 

US Regional Margins

  • Tyson: $ 59.06 USD X 1.4328 = $ 84.62 in Canadian Dollars
  • Morrell: $ 47.64 USD X 1.4328 = $ 69.26 in Canadian Dollars




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