Canadian Hogs Getting Heavier, U.S. Lighter
It was bad news, not quite so bad news for Ontario’s pork producers in the last week of August.
Prices dipped again, down 12.3 per cent from a year ago. The only positive – that was the smallest drop of all the provinces.
Canada’s number of hogs slaughtered so far this year is up 1.3 per cent while overall production is up 2 per cent.
According to Ron Plain of the University of Missouri, total slaughter numbers are up in the U.S. as well – by half a point – but production is down a tenth of a per cent due to lighter weights.
Plain adds the weekly numbers of hogs processed in the states was up a tenth from the week before and 3.5 per cent from last year.
He points out the month’s American hog slaughter was the largest ever for the month of August.
Hog futures are down as a result. October’s contract ended the week down 57 and a half cents at $60.75. December is currently at $55.37 and a half, down $1.25 from a week ago.