Sarnia

Hog Prices Still Climbing On Both Sides Of Border

Agriculture and Agri-food Canada report hog prices across the country to start February were up between 1 and 5 per cent from a year ago.

Ontario prices were 4.5 per cent higher.

This comes as hog slaughter for the first month of 2017 is down by one and a half per cent from last year.

Lighter weights are also being reported, as total production for January dipped by 3.3 per cent.

AAFC also notes total pork exports last year were 6.1 per cent higher than they were in 2015.

The value of the exports also increased, leading to an 11 point jump in revenue generated from pork exports, which is the equivalent of almost $400 million.

Scott Brown of the University of Missouri says the USDA's newly released trade data for December showed a big jump in American pork exports.

He notes the increased demand led to fairly strong gains in the pork prices again last week.

Brown also points out consumer confidence in the US is currently high, which is good for all types of meat producers.

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