Eastern Cornbelt Direct Feeder Pig Weekly Summary

GX_LS255
Springfield, IL    Fri Jan 21, 2011    USDA-Illinois Dept Ag Market News

Eastern Cornbelt Direct Feeder Pig Weekly Summary: Week ending Jan 21
Summary includes pigs priced on negotiated, contract and formula basis.

RECEIPTS THIS WEEK: 28,866     LAST WEEK: 38,399     LAST YEAR: 36,419

TRENDS COMPARED TO LAST WEEK:  Early weaned pigs traded steady to 2.00
lower.  Feeder pigs traded steady to weak on light test.  Demand was
moderate for moderate offerings.  Receipts included 61% formulated prices.

   FOB Eastern Cornbelt - Illinois, Indiana, Ohio, Michigan
RECEIPTS THIS WEEK: 21,683     LAST WEEK: 32,118     LAST YEAR: 22,123

LOT SIZE     NUMBER OF HEAD   PRICE/HEAD WEIGHTED AVERAGE PRICE

EARLY WEANED PIGS 10 POUNDS BASIS: ESTIMATED 50-54% LEAN VALUE
250-750              3919      36.29-56.00     $43.18
750 or more         16564      33.00-58.00     $48.49
Total Composite     20483      33.00-58.00     $47.47

FEEDER PIGS 40 POUNDS BASIS: ESTIMATED 50-54% LEAN VALUE
750 or more          1200      71.86-71.86     $71.86
Total Composite      1200      71.86-71.86     $71.86

SUMMARY OF TOTAL COMPOSITE for FOB weighted average prices showing variations
of values between formula priced and cash market pigs included in quotes above.

               Formula                         Cash
Basis   Head    Range     $/Head      Head     Range     $/Head
10 Lb  13573  33.00-49.96  $43.19     6910  54.00-58.00  $55.88
40 Lb   1200  71.86-71.86  $71.86

+FOB prices are quoted on a per head basis "picked up" at the sellers farm
 in Indiana, Illinois, Ohio, and Michigan; these prices do not include freight.

               Delivered Eastern Cornbelt Basis
RECEIPTS THIS WEEK: 7,183     LAST WEEK: 6,281     LAST YEAR: 14,296
Volume by state or province of origin:  Manitoba 62.0%, Oklahoma 38.0%.

LOT SIZE     NUMBER OF HEAD   PRICE/HEAD WEIGHTED AVERAGE PRICE

EARLY WEANED PIGS 10 POUNDS BASIS: ESTIMATED 50-54% LEAN VALUE
750 or more          7183      39.91-60.00     $51.90
Total Composite      7183      39.91-60.00     $51.90

+Delivered Eastern Cornbelt prices include freight and fees on a farm to farm basis.
++Most lots of 40-60 weight pigs have a sliding value from the negotiated weight 
basis which is calculated on the actual average weight of the lot plus or minus 
.25-.40 cents per pound. Some early weaned lots have a slide of .50-1.00 per pound.
+Early weaned pigs are under 19 days old.
+Estimated lean value is projected to use base slaughter weights with normal
confinement feeding conditions.
+Vaccination and health program values are not included but health status
should be disclosed.

Source: USDA-Illinois Dept Ag Market News, Springfield, IL
        Cordell Givens, Market Reporter 217-782-4925
        www.ams.usda.gov/mnreports/gx_LS255.txt

1400c


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