Markets
The U.S. IPO market is set for a historic week ahead.
Cash cattle averaged $202.96 per cwt., up from last week, while lean carcass hog prices were slightly down at $81.08 per cwt.
Cash-traded feeder pig reported volume was below average this past week, with 14,034 head reported. Cash feeder pig reported prices were $98.98, up $3.65 per head from last week.
November was an exciting month for U.S. red meat, with year-over-year gains across all categories.
Cash cattle averaged $199.48 per cwt. while lean carcass hog prices were at $81.79 per cwt., both up from last week.
Cash-traded feeder pig reported volume was above average this past week, with 18,325 head reported. Cash feeder pig reported prices were $95.33, up $7.14 per head from last week.
Cash cattle averaged $195.68 per cwt. while lean carcass hog prices were at $81.02 per cwt., both up slightly from last week.
Cash-traded weaner pig reported volume was below average this past week, with 41,501 head reported. Cash weaner pig reported prices were $76.72, up $5.56 per head from last week.
Cash cattle averaged $194.99 per cwt. while lean carcass hog prices were at $80.35 per cwt.
Cash-traded feeder pig reported volume was above average this past week, with 20,350 head reported. Cash feeder pig reported prices were $88.03, up $5.37 per head from last week.
Cash-traded weaner pig reported volume was below average this past week, with 31,850 head reported. Cash weaner pig reported prices were $64.71, up $0.80 per head from last week.
The packer/feeder margin spread grew this week in favor of the feeder at $285 per head while pork producers found positive margins of $39.77.
Packer margin losses grow, with beef packers at a loss of -$91.33 per head and pork packers averaging losses of -$5.87 per head.
Cash-traded feeder pig reported volume was above average this past week, with 19,350 head reported. Cash feeder pig reported prices were $78.07, up $8.40 per head from last week.
Packer margins remain in the red for beef at -$60.29 and stayed similar for pork.
Cash-traded weaner pig reported volume was below average this past week, with 43,810 head reported. Cash weaner pig reported prices were $56.33, up $4.14 per head from last week.
Margins widened this week this week for pork and beef producers while packer margins remain in the red for beef at -$34.67 and decreased for pork to $8.65.
Cash-traded weaner pig volume was below average this week with, 55,858 head being reported Cash feeder pig reported prices were $69.35, up $4.98 per head from last week.
The estimated total cost for finishing a steer last week was $2,770 per head. Hogs placed for finishing last week had a breakeven at $68.36 per head.
Cash-traded weaner pig reported volume was above average this past week, with 92,390 head reported. Cash weaner pig reported prices were $50.50, up $2.23 per head from last week.
While feedlot margins are declining in the beef industry, hog margins are increasing for U.S. pork producers. Here’s a look at the latest Profit Tracker from Sterling Marketing.
Cash-traded feeder pig reported volume was above average this past week, with 17,335 head reported. Cash feeder pig reported prices were $64.06, up $5.77 per head from last week.
Hogs placed for finishing last week had a breakeven at $69.49 per head. The estimated total cost for finishing a steer last week was $2,702 per head, according to the Sterling Profit Trackers.
Cash-traded weaner pig reported volume was below average this past week, with 64,675 head reported. Cash weaner pig reported prices were $45.52, down $0.06 per head from last week.
How did the beef and pork markets shake out last week?
Cash-traded feeder pig reported volume was below average this past week, with 11,275 head reported. Cash feeder pig reported prices were $61.61, up $4.01 per head from last week.
Beef packers saw profits increase $26 per head to a total loss of $86 per head. That puts the packer/feeder margin spread at $289 per head in favor of the feeder. Meanwhile, pork packers saw average profits of $25 per head, up $2.68 from the previous week.
Cash-traded feeder pig reported volume was below average with 8,300 head reported. Cash feeder pig reported prices were $57.60, down $1.41 per head from last week.
U.S. Meat Export Federation announces new records for volume and value for pork exports will be achieved in 2024. While not as strong, beef exports are holding their own, led by Mexico purchases.
John Nalivka of Sterling Marketing shares his weekly Beef and Pork Profit Trackers, giving us a deeper look at what’s going on in the markets.