For the six weeks ending Aug. 6, Federally Inspected slaughter has been up over 4 percent from the same period last year, according to Glenn Grimes and Ron Plain, University of Missouri agricultural economists.
Based on USDA’s June Hogs and Pigs report, slaughter for this period was expected to be up about 2 percent from the same time in 2003. Weekly import data suggests all of the increase is from domestic fed animals.
Slaughter for this week probably will be below a year earlier. For some reason slaughter increased over 8 percent from last week to this week last year, say the Missouri economists.
Producers need to at least keep marketings current heading into seasonally increased numbers. A modest amount of pulling marketings forward could pay off in the next few weeks, according to Grimes and Plain.
Hog prices ended last week with live prices steady to down $1.50 per hundredweight from a week earlier. However, carcass prices were somewhat stronger compared to last week with prices $0.14 to $2.41 per hundredweight higher compared to the week ending July 30.