Eastern Cornbelt Direct Feeder Pig Weekly Summary

GX_LS255
Springfield, IL    Fri Jan 07, 2011    USDA-Illinois Dept Ag Market News

Eastern Cornbelt Direct Feeder Pig Weekly Summary: Week ending Jan 07
Summary includes pigs priced on negotiated, contract and formula basis.

RECEIPTS THIS WEEK: 35,070     LAST WEEK: 42,288     LAST YEAR: 31,196

TRENDS COMPARED TO LAST WEEK:  Early weaned pigs traded 1.00 to 2.00 
higher.  Feeder pigs traded 3.00 to 5.00 higher.  Demand was moderate 
for moderate offerings.  Receipts included 61% formulated prices.

   FOB Eastern Cornbelt - Illinois, Indiana, Ohio, Michigan
RECEIPTS THIS WEEK: 30,959     LAST WEEK: 36,500     LAST YEAR: 24,846

LOT SIZE     NUMBER OF HEAD   PRICE/HEAD WEIGHTED AVERAGE PRICE

EARLY WEANED PIGS 10 POUNDS BASIS: ESTIMATED 50-54% LEAN VALUE
250 head or less      150      48.00-48.00     $48.00
250-750              5929      34.77-55.00     $42.23
750 or more         14205      41.57-55.75     $47.48
Total Composite     20284      34.77-55.75     $45.95

FEEDER PIGS 40 POUNDS BASIS: ESTIMATED 50-54% LEAN VALUE
250-750              1050      58.50-67.00     $62.95
750 or more          9625      69.50-73.00     $71.77
Total Composite     10675      58.50-73.00     $70.90

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  15923  34.77-49.14  $43.92     4361  48.50-55.75  $53.37
40 Lb   1200  69.54-69.54  $69.54     9475  58.50-73.00  $71.08

+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: 4,111     LAST WEEK: 5,788     LAST YEAR: 6,350
Volume by state or province of origin: Oklahoma 65.7%, North Carolina 34.3%.

LOT SIZE     NUMBER OF HEAD   PRICE/HEAD WEIGHTED AVERAGE PRICE

EARLY WEANED PIGS 10 POUNDS BASIS: ESTIMATED 50-54% LEAN VALUE
750 or more          4111      32.77-39.86     $37.43
Total Composite      4111      32.77-39.86     $37.43

+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

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