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Weekly Pork Commentary
How fast can a market turn around? The answer would be quickly, when we refer to the retail pork complex. Sellers entered the week with expectations of a mostly steady trade, but very light demand caused a backlog of inventories and they were forced to severely discount prices mid to late week, especially boneless cuts. Bone-in ham inventories began the week with ample offerings to meet demand while price levels held steady. Although, as the week progressed and surplus dwindled, prices inched slightly higher due to improved buyer interest. Skin-on seedless belly offerings continue to be scarce, though a couple loads did trade which pushed prices higher. At the same time, production from bacon slicers is at near capacity to keep pace with demand from both retail and foodservice arenas. The trimmings complex experienced moderate to heavy offerings most of the session for both fresh and frozen. This forced sellers to lower prices in an effort to move their surplus. At the same time, price levels dipped as buyer’s readily procured raw product, although once the surplus cleared the market price levels stabilized. Fresh loins 5.00-8.00 lower; butts 2.00 lower; spareribs steady to 6.00 lower; skinned hams 17-20 lbs. steady, 20-23 lbs. 2.00-3.00 higher, 23-27 lbs 1.00 higher; sdls bellies 14-16 lbs 3.00 higher; 42% trimmings steady; 72% trim generally steady with weaker undertones ; bnls picnics steady to 2.00 lower. The composite cutout value of 53-54% 200 lbs. hog carcass was estimated at 83.29 per cwt. dn 2.35 from last Friday.
The Pork Report for January 28, 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.