Canadian and U.S. Hog Numbers Up, Prices Down
Hog slaughter numbers continue to climb while prices continue to fall on both sides of the border.
Canada’s 2016 total hog slaughter through the end of August remains 1.3 per cent ahead of last year’s pace.
The extra 25,000 tonnes of production has kept prices down by 12 to 20 per cent across all provinces from the same time last year.
Agriculture and Agri-Food Canada reports Ontario’s average of 183 dollars dressed weight for the first week of September is $28.90 below 2015 prices, a drop of 13.6 per cent.
Ron Plain of the University of Missouri notes the average lean hog price in the U.S. for August was down $8.16 from July, which was the lowest for any month since March.
He adds hog prices are currently down 1 to 4 dollars across America from a week ago, as the number of hogs processed remains at record highs for this time of year.
Plain points out last week’s 2.36 million head were the most slaughtered in any week since the first full week of January.
The average retail price of pork in the U.S. during August was actually up 1.5 cents from July, but the $3.80 per pound was still down nearly 4 cents from 2015.