U.S. Cash Hog Bids Steady to Firmer As Plants Add to Production
13 February 2016 - 2:49AM
Dow Jones News
By Kelsey Gee
CHICAGO--Bids for hogs in the cash markets by U.S. pork packers
are flat to narrowly higher Friday, as plants add hogs to
production schedules for the week ahead.
Bids are mostly steady with the previous prices paid to 50 cents
higher, and Thursday's top sales ranged from $45 to $49 per
hundredweight on a live basis, and from $52 to $64 per
hundredweight on a carcass basis--a form of pricing that accounts
for the meat yielded from the animal.
Heavy winds in northern Iowa and Minnesota early this week
prevented some plant operators from delivering hogs, spurring
stronger demand for hogs to process later this week in some
regions, while others have ample supplies.
Projections for Saturday's load of hogs to process total 200,000
head. For the week, an estimated 2.269 million head are expected to
have been slaughtered.
The last available Wall Street Journal packer margin index for
Thursday was positive $19.48 per head, compared with positive
$24.49 per head on Wednesday.
The U.S. Department of Agriculture reported Thursday the
wholesale pork price, known in the industry as the cutout, fell
$1.77 to $75.16 to $76.93 a hundred pounds, based on Omaha, Neb.,
price quotes.
Write to Kelsey Gee at kelsey.gee@wsj.com
(END) Dow Jones Newswires
February 12, 2016 10:34 ET (15:34 GMT)
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