After a week of lower hog prices, a market analyst says there are indications that the market may turn around in the coming week.
Butcher hogs marketed last week in the Iowa/southern Minnesota direct trade were averaging 272.8 pounds apiece, according to Ron Plain, livestock economist at the University of Missouri. That’s 1.1 pounds heavier than the week prior, but more significantly, said Plain, it’s about three-quarters of a pound below what the average weight was last year.
“That’s a good indication that producers are current in their marketings and hopefully means that hog prices will be steady, maybe a bit higher in the coming week,” said Plain, in an interview provided by the National Pork Board.
It’s the fifth consecutive week that market hog weights have been below year-ago levels.