Attractive packer profit margins and brisk wholesale pork demand kept cash hog prices rising.
Trade renegotiation between the United States and Mexico might threaten lucrative U.S. pork exports south of the border. The U.S. national live price average for barrows and gilts was US$49.46 per cwt. Jan. 27, up from $48.39 Jan. 20.
U.S. hogs averaged $63.98 on a carcass basis Jan. 27, up from $62.88 Jan. 20. The U.S. pork cutout was $82.91 per cwt. Jan. 27, up from $79.71 Jan. 20. The estimated U.S. weekly slaughter for the week to Jan. 27 was 2.367 million, up from 2.329 million the previous week.
Slaughter was 2.320 million last year at the same time.
In Canada, the Jan. 27 Signature Five price was C$157.06 per 100 kilograms, up from $153.46 the previous week. On a per hundredweight basis, the price was $71.24 up from $69.61 the previous week.
The Canadian Bison Association said Grade A bulls in the desirable weight range sold at prices up to C$6.25-$6.40 per pound hot hanging weight. U.S. buyers are offering US$4.60 with returns dependent on exchange rates, quality and export costs. Grade A heifers sold up to C$6-$6.20 U.S. buyers are offering US$4.40. Animals outside the desirable buyer specifications may be discounted.
Ontario Stockyards Inc. reported 805 sheep and lambs and 40 goats traded Jan. 23. New crop light weight lambs continued to sell at a premium. Other lambs, sheep and goats sold steady.