(photo by Victor Young)(photo by Victor Young)
Sarnia

Hog Price Decline Pauses For Hurricane Matthew

The slide in hog prices took a momentary pause last week.

The University of Missouri's Ron Plain says that's mainly due to Hurricane Matthew.

Wild weather shut down a number of east coast plants, leading to nearly a 5 per cent drop in U.S. hog processing numbers on the week.

Plain points out those hogs will likely lead to some huge numbers again over the next few days.

As a result, prices held steady for the most part.

The national negotiated barrow and gilt price was up 22 cents at an average of $45.44.

The market analyst also notes the USDA increased its 2017 pork production estimates by 1.4 per cent from last month.

The department now anticipates 3.8 per cent more pork next year on top of this year's record numbers.

Agriculture and Agri-Food Canada reports the nation's pork production is still 2.3 per cent ahead of last year's pace.

AAFC also notes our exports to the states are down by 9.3 per cent so far this year. However, overall exports are up nearly 8 points on the year, thanks in large part in to a more-than-tripled amount sent to China.

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