U.S. HOG PRICES HIT RECORD
Tight supply and strong pork exports to South Korea and China drove U.S. cash hog prices to record highs.
Packers had to chase supply to fill contracts for the coming July 4 holiday barbecue demand. Hog prices might fall now that the holiday demand has been met.
U.S. pork exports are up 19 percent this year.
Pork prices in China have hit record highs, indicating shortages there and prospects for continuing good exports from North America.
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Also, warm weather in the Midwest slowed growth and carcasses are lighter than last year at this time.
The U.S. Department of Agriculture reported June 24 that the June hog herd is at 65 million head, or 100.6 percent of a year ago, slightly more than expected. The breeding herd was 5.803 million, 100.3 percent of a year ago, and the market hog supply was 59.197 million, at 100.6 percent of a year ago.
Iowa-southern Minnesota cash hogs delivered to plants jumped to $75 US per hundredweight June 24 from $70 June 17.
The U.S. pork carcass cut-out value rose to $99.06 June 24, up from $95.77 June 17.
The U.S. federal slaughter estimate was 1.94 million, down from 1.97 million the previous week.
BISON STEADY
The Canadian Bison Association said grade A bulls in the desirable weight range were $3.85-$4.10 per pound hot hanging weight. Grade A heifers were $3.75-$4.
Animals older than 30 months and those outside the desirable weight range may be discounted.
Slaughter cows and bulls averaged $2.75.
Feeder bulls born in 2009 are trading at $2.20 per lb. and heifers at $2.15. Bulls born in 2010 are trading at $2.70 per lb. and heifers at $2.50.
Late bred two-year-old heifers are $2,000-$2,500 per head. Late bred cows are $1,800-$2,500 and replacement 2010 heifers are $1,600-$1,800.
SHEEP EDGE HIGHER
Ontario Stockyards Inc. reported 1,172 sheep and lambs and 31 goats traded June 20. All classes of sheep and lambs traded steady to higher. Goats sold steady.
