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: Sow Welfare and Group Housing Systems - Dr. Laya Alves

In this episode of The Swine it Podcast Show Canada, Dr. Laya Alves from the University of São Paulo, in Brazil, discusses how animal welfare regulations are evolving globally and their impact on pig production systems. She explains challenges in group housing, pain management, and euthanasia decisions, while highlighting the role of training and management in improving outcomes and economic sustainability. Listen now on all major platforms!

"Translating welfare requirements into daily farm routines without compromising economic sustainability remains one of the biggest challenges faced by producers globally today."

Meet the guest: Dr. Laya Alves / laya-kannan is a Postdoctoral Researcher at the University of São Paulo, Brazil, focusing on animal welfare in pig production, including pain management, euthanasia, and economic decision making. Her work integrates welfare science with practical farm management and sustainability. She collaborates globally to develop applied tools for producers.