|Pork Prices Improving|
|Written by Neil Billinger|
|Wednesday, 24 October 2012 16:13|
Pork prices have bounced back a bit after hitting a low point in early September.
North American cash hog prices have risen 30 per cent over the past five weeks, thanks to a bump in pork consumption. The price increase was badly needed following a steep decline over the summer.
Higher feed costs resulting from the U.S. drought are continuing to keep producers in the red.
However, the longer term outlook remains promising according to Brad Marceniuk, a livestock economist with the Saskatchewan Ministry of Agriculture.
"If we look at the lean hog futures prices for the spring, the prices are indicating a very strong rebound in hog prices into the mid-170's per hundred kilograms for the spring and summer of 2013."
Marceniuk says depending on where feed prices go, hog producers are likely to get back to break-even or profitable levels by next spring.
The Hams Marketing Services price range this week is $150 to $152 per hundred kilograms.