Weekly Hog Market Update: Ontario Prices Rise, U.S. Slaughter Sees Stability

Nov 04, 2024

Introduction: The latest hog market data, compiled by Jaydee Smith from the Ontario Ministry of Agriculture, Food and Rural Affairs (OMAFRA), provides insights into pricing trends, slaughter statistics, and regional variations in the swine industry for the week ending November 1, 2024.

Ontario Market Overview: Ontario’s hog market continues to show strength with the 100% base formula price reaching $219.71 per ckg, up from $212.73 the previous week. This price is significantly higher than last year’s $191.79 for the same period, reflecting increased demand and higher production costs. The average dressed weight for hogs rose slightly to 106.34 kg, with total market hogs sold at 119,611, representing 101% of last year’s volume.

Canadian Market Trends: In Canada, the Quebec Pool Price rose to $223.05 per ckg, and the Manitoba calculated hog value increased to $226.17 per ckg, indicating robust pricing across provinces. Hog slaughter rates were steady, with 423,339 hogs processed, a slight decrease from the previous week but maintaining a 94% rate compared to last year. The Canadian dollar continues to decline, closing at $0.7178 USD, which impacts export competitiveness.

U.S. Market Highlights: The U.S. federally inspected hog slaughter numbers were stable, totaling 2.65 million hogs, matching last year’s levels. Sow slaughter numbers indicate an 8.7% decrease from last year, pointing to reduced culling rates. Pork carcass cutout values rose to $102.35 per cwt, signaling stronger packer margins. Additionally, the price for early-weaned pigs averaged $50.33 USD per pig, up from $47.00 the prior week, showcasing growing demand for feeder pigs.

Feed and Input Costs: Corn and soybean markets showed slight fluctuations. Chicago corn closed at $4.1450 USD per bushel, and soybean meal prices in Hamilton decreased to $516.22 per tonne, signaling some easing in feed costs.

Conclusion: This week’s hog market data reflects an optimistic trend in pricing for Canadian and U.S. producers, with stable slaughter rates and rising demand for feeder pigs. As we approach the winter season, producers will keep a close eye on feed costs and market demand to navigate the dynamic market conditions.

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Video: You Be The Judge: Evaluating 8 Breeding Rams!

It's time for some honest feedback here at Ewetopia Farms! Today, we’re showing you all eight rams we used for breeding this year. Instead of just presenting them, we thought it would be fun to create a “Ram Report Card” — where we point out both their strengths and areas for improvement.

But here’s the twist: you be the judge! In the comments, let us know what you like about each ram and what you think could be improved. No ram is ever perfect, but every one of them brings something valuable to the flock. By sharing perspectives, we all learn more about what to look for in good breeding stock.

At Ewetopia Farms, we raise registered Suffolk and Polled Dorset sheep, focusing on high-quality genetics, structure, and friendly temperaments. Evaluating breeding rams is part of the bigger picture of building stronger flocks — and we’re excited to share the process with you.

If you enjoy seeing how we evaluate our animals, follow along by subscribing to our channel. We share daily insights into the joys and challenges of sheep farming here in Canada.