The weaner breakeven was $34.68, down $1.23 for the week. Feed costs were down $0.51 per head. Breakeven prices are based on closing futures prices on April 20, 2018.
Looking at hog sales in September 2018 using October 2018 futures the weaner breakeven was $30.37, down $0.04 for the week. Feed costs were up $1.29 per head.
Looking at hog sales in September 2018 using October 2018 futures, the weaner breakeven was $42.66, up $4.80 for the week. Feed costs were down $0.51 per head.
Decline in October futures combined with an increase in both corn and soybean meal futures pulled the weaner pig breakeven down more than $6 per head last week.
The spread between August 2018 futures and October 2018 futures (and taking into account basis change), caused about $16 of the $17 per head decrease in the weaner pig breakeven prices last week.
Looking at hog sales in August 2018 using August 2018 futures the weaner breakeven was $69.34, down $7.02 for the week. Feed costs were up just $0.26 per head but futures decreased $3.28 compared to the previous week.
Cash-traded weaner pig volume was above average last week, with 47,689 head being reported. This is 144% of the 52-week average. Cash prices were $71.62, up $0.36 from a week ago.
The estimated weaner pig breakeven for last week was $76.70, $3.70 less than the previous week. August futures decreased $1.53, while feed costs were up $0.54 per head. Cash feeder pig prices also were higher.
Looking at hog sales in July 2018 using August 2018 futures, the weaner breakeven was $80.40, up $1.42 for the week. Margin over variable costs was $99.67.
July futures increased $0.80 compared to the previous week’s July futures used for the crush and historical basis is improved from last week by $0.30 per cwt.
