Lean hog futures have been pressured by a larger supply combined with higher tariffs being applied by both Mexico and China.

That from Tyler Fulton, Director of Risk Management with Hams Marketing Services.

He says the market is also reflecting the latest trade data which shows that the United States showed no growth in pork exported for the month of May compared to a year previous. The main factor contributing to the poor performance was trade with China which was down close to 50% from year ago levels.

Fulton explained how U.S. cash markets have been performing.

"The cash markets are not probably performing quite as strong as what we would expect them to for this time of year," he said. "We've got a lot of hogs out there but we've still got really strong cash demand. Packers have been actually willing to operate at a loss just to be able to secure those supplies and make sure they can continue to fill some of the orders that they had in place."

Additionally, wholesale pork prices have been close to steady on average with pork bellies supporting the cut-out value while loins, ribs and hams have come under pressure.

More Ag News

(VIDEO) City Students Learn About Farming

Students from Winnipeg and rural Manitoba are getting a chance to see what farming is all about this week at the Amazing Agriculture Adventure. The 3-day event, which features a dozen interactive…

Statistics Canada Forecasting Record Corn Crop

Statistics Canada is predicting a record corn for grain crop this year. The agency's model-based principal field crop estimates forecast record production of 14.5 million tonnes of corn for grain.…

Manitoba Beef Producers Welcomes Drought Relief Measures

Due to this year's dry conditions, the province has made changes to the Ag Action Manitoba program to enable funding for water source development, which includes wells and dugouts. Manitoba Beef…

Corn Harvest Begins

The grain corn harvest is underway in Manitoba. "There has been some grain [corn] harvesting happening in the Altona region and also in the Elm Creek region," said Anastasia Kubinec with Manitoba…

Combines Sitting As Of Late

Manitoba Agriculture says there was little to no harvest progress made over the past week because of the rainfall, high humidity and cool temperatures. Progress remains steady at about 65 per cent…

It's Not Too Early To Soil Test

The province's soil fertility specialist John Heard says it's not too early to start soil testing in preparation for fall fertilizer applications. "The best time to sample is close to when the crop…

Sunflower Harvest Fast Approaching

It's been a good year for Manitoba's sunflower crop. Ben Friesen with Scoular Canada says the crop remains fairly disease-free. He notes harvest is right around the corner. "We're within the last two…

Manitoba Agriculture Signs MOU With Indiana

The Indiana and Manitoba Departments of Agriculture signed a Memorandum of Understanding (MOU) Monday to foster co-operation in key areas including agricultural research, trade, investment and youth…

Manitoba Farms Open Doors To The Public

Over 40 host sites participated in Open Farm Day, held Sunday throughout the province. Brad and Leanne Anderson of Cypress River opened their mixed farm to the public. The couple showcased farm…

Soybean Growers Seeing Green This Harvest

Many soybean growers in Manitoba are seeing green seeds this harvest season. This year's warm, dry conditions, have caused many seeds to prematurely ripen, resulting in chlorophyll getting locked…

PembinaValleyOnline.com is your only local source for community news and information such as weather and classifieds.

Login