OMAFRA Swine Team, Weekly Hog Market Facts, February 19th, 2015

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Week Ending on Friday……………………… 16-Jan-15 23-Jan-15 30-Jan-15 06-Feb-15 13-Feb-15
The Ontario Market
100% Base Formula Price ($/ckg, 100 index) $164.10 $164.26 $162.63 $155.77 $145.32
Previous Year – 100% Formula Price ($/ckg, 100 index) $158.75 $160.44 $164.95 $167.28 $170.03
Average price ($/ckg, DW total value) $184.21 $184.60 $184.31 $180.12  
Low price ($/ckg, DW total value) $157.58 $162.86 $165.35 $162.56  
High price ($/ckg, DW total value) $217.44 $219.23 $214.83 $209.57  
Weekly Average Dressed Weight (kg) 103.63 103.25 103.24 103.28  
Market Hogs Sold 107,520 102,269 105,001 92,577  
Market Hogs Sold – % of Previous Year 105% 108% 115% 102%  
Weaned Pig Value (C$/pig) – 26% of Base Formula Price $42.67 $42.71 $42.28 $40.50 $37.78
Feeder Pig Value (C$/pig) – 41.25% of Base Formula Price $67.69 $67.76 $67.08 $64.26 $59.94
Market Pig Value (C$/pig) -101% of Base Formula Price $190.93 $190.42 $188.54 $180.74 $163.45
25 kg. Feeder Pig Value 16 Weeks Prior (C$/pig) $78.59 $92.49 $92.48 $83.44 $80.46
16 week Avg. Grow-Finish Feed Cost (C$/pig) $87.43 $86.78 $87.32 $87.79 $84.60
Est. Margin after Feeder Pig and Feed (C$/pig) $24.91 $11.15 $8.74 $9.51 -$1.61
Est. Farrow to Finish Feed Cost (C$/pig) $117.69 $117.12 $117.48 $117.79 $114.52
Est. Farrow to Finish Margin after Feed (C$/pig) $73.24 $73.30 $71.06 $62.95 $48.93
The U.S. Market          
Estimated and Actual Federal Inspected Slaughter 2,243,772 2,316,711 2,239,561 2,250,000 2,222,000
Federal Inspected Slaughter- % of Previous Year 99% 105% 105% 104% 106%
Number of Sows Slaughtered 58,211 57,310 54,741  
Sow Slaughter – % Change from Previous Year 3.6% 1.6% 1.5%  
Early Weaned Pigs – Weighted Avg. (US $/Pig) $55.40 $52.02 $49.50 $46.98 $39.91
Early Weaned Pigs – Formula Based Avg.   (US $/Pig) $47.51 $48.21 $45.46 $45.82 $44.75
Early Weaned Pigs – Cash Based Avg. (US $/Pig) $66.02 $63.61 $56.14 $48.67 $36.57
40 Pound Feeder Pigs – Cash Based Avg. (US $/Pig) $83.40 $85.29 $73.21 $72.74 $67.68
CME Constructed Price (US$/cwt) $75.94 $74.23 $71.84 $68.94 $64.36
Previous Year CME Constructed Price (US$/cwt) $80.33 $80.35 $81.87 $83.57 $85.38
USDA Barrow & Gilt Dressed Weight (lbs.) 213 213 214  
USDA Barrow & Gilt Dressed Weight (lbs.) Previous Year 211 211 210 211 210
USDA Pork Carcass Cutout Value   (US$/cwt) $83.95 $85.31 $80.61 $75.26 $72.65
Previous Year USDA Pork Carcass Cutout Value (US$/cwt) $85.54 $87.67 $90.10 $91.31 $93.80
Week Ending on Friday……………………… 16-Jan-15 23-Jan-15 30-Jan-15 06-Feb-15 13-Feb-15
         
The Canadian Market Prime Interest Rate – Friday 2.85% 2.85%
Hog Slaughter (Provincial & Federal Plants) 435,068 427,136 425,868 403,766  
Slaughter as a % of Previous Year 103% 101% 105% 101%  
Quebec Pool Price ($/ckg, 100 index) $167.84 $166.39 $166.20 $162.91 $152.96
Manitoba Calculated Hog Value ($/ckg, 100 index) $165.42 $163.76 $162.33 $160.34 $150 E
Value of the Canadian Dollar – Friday Noon (US $) $0.8343 $0.8063 $0.7863 $0.7985 $0.8033
Previous Year’s Canadian Dollar Value – Friday Noon $0.9123 $0.9040 $0.8994 $0.9076 $0.9107
CME Lean Hog Futures (Friday’s Closing Price – US $ per cwt.)
February 2015 $74.50 $69.30 $67.48 $63.88 $62.08
April 2015 $77.68 $70.65 $72.25 $69.28 $66.03
June 2015 $86.65 $80.20 $84.10 $81.05 $80.13
July 2015 $86.30 $80.73 $84.30 $81.00 $80.55
August 2015 $86.18 $80.53 $83.75 $81.03 $80.73
October 2015 $76.43 $70.65 $73.28 $73.20 $70.73
December 2015 $71.75 $66.10 $69.45 $68.80 $67.00
February 2016 $73.20 $67.50 $70.75 $70.13 $69.08
April 2016 $74.55 $70.45 $72.08 $71.50 $70.45
The Ontario Feed Market (Friday’s Closing Prices)          
Chicago Corn (US $/bushel) -Mar ’15 $3.8700 $3.8675 $3.7000 $3.8575 $3.8725
Chicago Soybeans (US $/bushel) –   Mar ’15 $9.9175 $9.7275 $9.6100 $9.7350 $9.9050
Soybean Meal ($/tonne Hamilton + $20) $525.64 $530.38 $546.26 $527.71 $548.90
Old Crop Corn ( farm price – $/tonne) – based on Mar ’15 $177.94 $183.75 $181.09 $187.29 $189.85
Western Ontario Feed Corn ($/tonne) –   based on Mar ’15 $192.12 $191.86 $189.60 $198.16 $198.91
New Crop Corn (farm Price – $/tonne)- based on Dec ’15 $171.15 $178.04 $173.52 $177.85 $180.11
DDGS FOB Chatham/Sarnia/Aylmer ($/tonne) $225.00 $250.00 $250.00 $280.00 $272.50
U.S. Weekly Imports by State of Entry from Canada (# of pigs)
Feeder Pigs – Total from Canada 82,463 77,885 80,689
                     @ North Dakota 65,559 61,170 64,529
                     @ Michigan & New York 16,904 16,715 16,160
Market Pigs – Total from Canada 13,322 13,021 13,303
                     @ North Dakota 2,564 1,966 1,701
                     @ Michigan & New York 7,649 7,384 8,329
# of Sows & Boars Imported from Canada for Slaughter 9,144 10,003 8,692    

 

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