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Beef, Veal, Lamb |
Weekly Pork Commentary
The slide in the cutout value carried over from last week as most cuts traded weaker early on in the trading session only to have higher belly trades returned it to where the week begun. Prices for retail cuts floundered about throughout the week due to ample supplies and marginal demand. Butts saw reduced trading levels for most of the week, but fire sales by many sellers cleared the excess and allowed price to stabilize as the week closed. Domestic buyers were inundated with bone-in ham offerings this week, while increased export interest held price levels steady with the previous week resulting in a two-tiered market. However, by week’s end the two-tiered market remained though price levels adjusted lower, as packers reduced prices to keep their surplus moving through the pipeline. Boneless ham price levels fluctuated up and down like a yo-yo before settling the week only slightly lower although offerings were moderate to heavy. Skin-on seedless belly inventories were limited since most are marketed as skinless. In spite of this, price levels firmed on just a few loads, while demand was mostly light. Lean trimmings readily traded early in the session as most packer inventories became burdensome which forced them to reduce price levels. Fresh loins unevenly steady; butts 2.00-3.00 lower; spareribs generally steady; skinned hams 17-20 lbs. not tested, 20-23 lbs. 2.00 lower, 23-27 lbs 3.00-4.00 lower; sdls bellies 14-16 lbs 5.00 higher from last quote; 42% trimmings weak to mostly 5.00 lower; 72% trim 1.00-4.00 lower; bnls picnics 1.00 lower. The composite cutout value of 53-54% 200 lbs. hog carcass was estimated at 84.11 per cwt. up 0.05 from last Friday.
The Pork Report for January 14, 2012
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.