Weekly Regional Hog Price Report – November 5, 2024

Nov 18, 2024

Weekly Hog Prices: Cash hog prices increased significantly across all markets as the counter-seasonal rally continues. National PM prices over the 5-day week averaged a gain of $5.69 US per cwt, although Friday-to-Friday values were only $3.40 higher as the market peaked mid-week and declined on Thursday and Friday. CME cash prices saw a weekly average increase of $2.64 but ended Friday over Friday up by $3.83 US/cwt. Wholesale pork primals continued their strong performance, ending $5.03 higher, over 5% above the previous week. The cutout closed the week at $103.97, marking the highest weekly price since early August.

Canadian Hog Prices: Higher Canadian hog prices persisted, supported by a robust U.S. cash hog market and a stronger Canadian exchange rate. ML Sig 4 posted a gain of $5.58 per hog from the previous week, Hylife recorded a $9.49 increase, and Olymel saw rises of $5.21 (OlyW21) and $4.56 (OlyW20). In the U.S., Tyson hogs experienced a significant gain of $9.59 per hog, while JM hogs increased by $11.96 US per hog.

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