Cash hogs around the U.S. Midwest traded steady to 50 cents per cwt higher on Monday, supported by tight hog supplies and moderate packer demand, dealers said.
- Hog numbers were tight seasonally but also because some producers have reduced their herds amid high feed costs.
- Hog supplies were also thinned by the outbreak of the Porcine Epidemic Diarrhea Virus (PEDV), which has been detected in 11 states.
- Pork packer demand for hogs was solid despite weak margins. Consumer demand for pork normally rises in the spring as outdoor grilling increases.
- Average pork packer margins on Monday were estimated at a negative $6.85 per head, compared with a negative $6.90 on Friday and a negative $2.20 a week ago, according to marketing advisory service HedgersEdge.com.
- The U.S. Department of Agriculture late on Friday quoted the pork carcass cutout value at $96.51 per cwt, up $1.57 from the prior day.
- Iowa/southern Minnesota hogs traded steady at about $72.00 per cwt delivered to packing plants.
- Indiana hogs traded 50 cents higher at about $70.00 per cwt delivered to plants and $69.00 per cwt at country points.
- Hogs in northwest Ohio hogs traded 50 cents higher at $73.00 delivered to plants and $69.00 at country points. In southeast Ohio, top hog prices were $70.50 delivered to packing plants and $69.50 in the country.
- Illinois hog prices were not immediately available.
(Reporting by Karl Plume in Chicago; Editing by David Gregorio)