Ontario pork producers are heading into the fall facing an increasingly challenging margin picture, as hog prices continue to retreat while several key feed-cost indicators move higher.
According to the latest Weekly Hog Market Facts, compiled by Maggie Henry, Swine Specialist with the Ontario Ministry of Agriculture, Food and Agribusiness (OMAFA), Ontario’s 100% Base Formula Price fell to $227.35 per ckg for the week ending September 4. That compares with $231.24 the previous week and $245.62 in early August. A year ago, the comparable formula price stood at $264.85 per ckg.
Hog Values Continue to Ease
The decline is not limited to Ontario.
Quebec’s pool price dropped to $208.25 per ckg, continuing a steady decline from $221.41 in early August. Meanwhile, the Canadian dollar closed the week at US$0.7225.
U.S. hog and pork values have also weakened. The CME Constructed Price finished the week at US$90.67/cwt, compared with $105.94 during the corresponding period last year. The USDA Pork Carcass Cutout Value stood at US$95.03/cwt, well below last year’s $114.51.
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