Record Jump For Hog Prices On Monday

Sep 28, 2021

Forward hog contract prices took a big jump Monday.

Tyler Fulton with Hams Marketing Services attributes the jump to the most recent Hogs and Pigs Report, which showed a significant drop in projected market hog supplies over the course of the next six months and beyond.

He commented on another factor.

"That coincided with a change in hog futures limits. They expanded those limits to pretty much the largest that we've ever seen before, or at least in my memory, and consequently we saw the biggest move in hog futures and therefore forward prices that we've ever seen. It was a pretty remarkable day and it reflects the fact that hog supplies are going to be down roughly six per cent according to the USDA from year ago levels, which is very significant."

Fulton also touched on U.S. cash prices.

"We typically see more influence from seasonality on the day to day cash prices that producers that haven't got a committed contract have. They've been lagging what we've seen on contracted hogs or on hogs that are referencing the pork carcass cutout, the value of the pork that the packers sell. The reality is the report out last week will likely help raise up those cash prices as well."

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Video: Veteran Farmers: A Legacy of Service in Rural America

Veterans Day is a time to honor the men and women who have selflessly protected our freedoms and values. And for some, the transition from military service to civilian life brings them back to the farm.

At Farm Bureau, we believe it’s important to not only celebrate veterans but also those who continue to make a difference in agriculture and their community. We've partnered with Farm Credit to establish the Veteran Farmer Award of Excellence to shine a light on those who have continued to go above and beyond to serve their communities.

This year, we recognize retired Colonel Joe Ricker as the inaugural Veteran Farmer Award of Excellence winner. Joe served over 30 years in the Army before retiring from the Pentagon and completing tours in both Iraq and Afghanistan. Since leaving the Army, his commitment to excellence in farming and enriching the lives of veterans has blossomed in a myriad of ways in both his local community of Wilkinson, Indiana, and across the country. Joe grows apples and raises bees on his farm in Indiana. Joe founded “Veterans IN Farming,” an organization, now with more than 1,100 members, dedicated to providing veterans in Indiana with the tools and training to succeed in agriculture.

The American Farm Bureau Federation is an independent, non-governmental, voluntary organization, comprised of and directed by farm and ranch families who engage in all types of food, fuel and fiber production.