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Weekly Pork Commentary
As the Thanksgiving holiday approaches, trading levels for most pork cuts declined and caused the cutout to drop to a calculated value last seen post Memorial Day. An over-abundance of loin products forced sellers to discount prices throughout the week to entice buyers. In spite of the lower trading levels, packers still had extra loads as the week ended. A stalemate was noted for the Boston butt complex as both sides of the trade were content with current price levels. Pre-holiday jitters plagued sellers this week as inventories amassed due the sizeable harvest. Sellers of processor cuts and trim were doing all they could in an effort to reduce their surplus even though freezer space was a valuable commodity itself. At the same time, buyers were hesitant to procure product going into the holiday week for two reasons one, their orders were limited and two, keep the amount of product held over for the long weekend minimal. Bone-in ham price levels were steady to firm; seedless bellies weaker undertones, trim complex sharply lower for the week. Fresh loins mostly 2.00-7.00 lower; butts steady; spareribs steady to 1.00 higher; skinned hams 17-20 lbs. 3.00 higher, 20-23 lbs. 2.00 higher from previous week, 23-27 lbs steady; sdls bellies 14-16 lbs generally steady; 42% trimmings 8.00-10.00 lower; 72% trim 2.00-5.00 lower; bnls picnics 3.00-10.00 lower. The composite cutout value of 53-54% 200 lbs. hog carcass was estimated at 88.43 per cwt. dn 2.10 from last Friday.
The Pork Report for November 19, 2011
Note: The pricing below is USDA commodity and/or wholesale pricing. It should be used as a guide to monitor market conditions and is not in any way comparable to distributor invoice pricing.