October 3, 2007

US hog prices down on expectations of record slaughters

Higher slaughters and record-hog marketings in the US have pushed the live hog cash market to US$39.31, the first time hogs have slipped under US$40 for more than 18 months.

Hog prices dropped to US$53.12/cwt., lean carcass basis, in the eastern Corn Belt this week, market observers said.

US hog slaughter has been exceeding 2.2 million head per week and is expected to rise rapidly.

Both pork and chicken production are expected to be the highest on record during the fourth quarter.