Weekly Overview: Hog and Pork Prices Tumble

ANALYSIS - This past week has been bad for pork and hog prices in the US due to a large hog slaughter.
calendar icon 1 August 2016
clock icon 3 minute read

Hog slaughter totaled 2.184 million head, up 2.0 per cent from last week, up 2.9 per cent from the same week last year, which agricultural economist Ron Plain believes is the highest ever for a week in July.

The national negotiated barrow and gilt carcass price averaged $66.62/cwt on Thursday, down $3.26 from a week earlier and down $14.68 from five weeks ago, reported Dr Plain.

Belly prices registered 31 per cent lower than the previous week. Friday morning's pork cutout value was $78.85/cwt, down $10.52 from the week before.

In lighter news, the new Pokémon Go app that was released in the UK a few weeks ago is taking the country by storm. Despite getting people of all generations out and about in their local areas, there is concern that some people may break the law and enter farms illegally in hope to find rare Pokémon.

“The Country Land and Business Association (CLA) has already received several reports from its members of players trespassing while using their smartphones to play the game," said the Head of the Agricultural and Landed Estates team at Midlands law firm Lodders, James Spreckley.

"For farmers and landowners the situation is likely to be very different with a risk for both the landowner and the trespasser should someone venture onto their land.”

The firm is advising landowners to ensure signs are up to date and to stress the land is private. They should also ensure fencing and security is improved, especialy where hazards are identified.

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