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Canada's Hog Inventory Increases From Year Ago

by 5m Editor
20 August 2004, at 12:00am

CANADA - Canada's hog inventories as of July 1 totalled 14.838 million head, up 1.4% from 14.631 million at the same time a year ago, and 1.9% higher than the April 1 level of 14.558 million, according to figures released by Statistics Canada Thursday.

The government agency said the exports during the latest quarter jumped by 42.8%, meaning that some 2.5 million more animals were shipped than during the same period the previous year.

Statistics Canada said prices for hogs were weak in much of 2002 and 2003. However, values dropped considerably during the second half of 2003 following a brief rally last summer. From June to December 2003, prices fell over 25%. Since then, 2004 prices have rebounded.

On March 5, 2004, spurred by rising exports, the National Pork Producers Council in the U.S. filed for anti-dumping and countervailing duties on Canadian hogs. The applications were made to both the U.S. Department of Commerce and the International Trade Commission. These actions added an element of uncertainty to the market place, the agency said.

Source: eFeedLink - 20th August 2004

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