Weekly Hog Market Update: August 9, 2024

Aug 12, 2024

The latest hog market data for the week ending August 9, 2024, reveals mixed trends across the Ontario, Canadian, and U.S. markets:

Ontario Market:

The 100% Base Formula Price saw a slight dip, closing at $231.22 per ckg.
Average dressed weight increased to 105.75 kg.
Weaned pig value reached $60.12, and feeder pig value was at $95.38.
The number of market hogs sold increased by 4% compared to the previous year.

Canadian Market:

The Quebec Pool Price dropped slightly to $222.60 per ckg.
The value of the Canadian dollar showed a slight improvement to $0.7282 USD.
Hog slaughter numbers remained stable, aligning with the previous year’s figures.

U.S. Market:

Federally inspected slaughter numbers were steady at approximately 2.37 million hogs.
Sow slaughter saw a significant decline, down by 10.1% compared to last year.
The CME Constructed Price closed at $92.71 per cwt, while the USDA Pork Carcass Cutout Value decreased to $100.49 per cwt.

Feed Market:

Corn and soybean prices continued to soften, with Chicago corn at $3.7675 per bushel and soybeans at $10.0250 per bushel.
Soybean meal prices eased to $630.20 per tonne.

These insights reflect the ongoing challenges and fluctuations in the swine industry, emphasizing the need for producers to stay informed and adaptable in these dynamic market conditions.

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Video: Farm Health Guardian | Digital Biosecurity in Real Time

Disease risk, biosecurity, and real-time monitoring continue to be major topics across the pork industry. In this episode of Swine Web Industry Perspectives, presented by Farm Health Guardian, we discuss how digital biosecurity and real-time data are changing the way producers think about herd protection, people movement, and operational decision-making.

The conversation explores:

disease risk in modern pork production,

the impact of people movement on biosecurity,

the importance of real-time monitoring,

digital biosecurity technology,

and how Farm Health Guardian developed tools designed to support modern swine operations.

As the industry continues focusing on prevention, preparedness, and operational efficiency, connected technologies and actionable data are becoming increasingly important parts of modern herd health management.