Hog prices started 2025 on a strong note compared with the start of 2024, according to the Livestock Marketing Information Center.
Weekly carcass-base slaughter-ready barrow and gilt prices in Iowa and Minnesota last week averaged $83.31 per cwt, up $2.39, or 11.3%, from $80.92 a week earlier and up $20.68, or 33.0%, from $62.63 a year earlier and up $17.77, or 27,1%, from the 2019-2023 average of $65.54, according to USDA data compiled and published by the LMIC.
EARLY WEANED PIGS UP
During the first two weeks of 2025, early weaned pig (weighing 10 to 12 pounds) prices tracked more than $40 per head more than 2024 at just above $80, which is more than double what prices were at the same time last year, the LMIC said. Compared with the previous five-year average, early weaned feeder pig prices were tracking more than $20 a head higher.
Last week, early weaned pig prices averaged $81.08 a head, up $2.48, or 3.16%, from $78.60 a week earlier, the LMIC/USDA data said. This also was up $35.54, or 78.0%, from $45.54 a year earlier and up $24.00, or 42.0%m from the previous five-year average of $57.08.
At the start of 2025, feeder pig (those weighing about 40 pounds) prices were about double what they were at the same time last year with the first two weeks in the mid-$90-per-head range, the LMIC said.
At this time last year, feeder pig prices were in the mid-$40-per-head range, the LMIC said. The five-year average for feeder pigs at the start of the year typically is in the mid-$70-per-head range.
Last week feeder pig prices were reported at $107.74 per cwt, up $50.42, or 88.0%, from $57.32 a month earlier and up $29.02, or 36.9%, from the 2019-2023 average of $78.72.
HOG PRICES STRONG
Slaughter hog prices (base, national, weighted average carcass) started 2025 above last year’s levels and the five-year average. During the first two weeks of 2025, slaughter hog prices were around $80 per cwt, an increase of just over $10 per cwt (about 15%) compared with last year, the LMIC said. Compared with the previous five-year average, slaughter hog prices tracked around $12 per cwt (18%) higher.
The pork cutout value has started 2025 above last year’s levels with the first two weeks of the year around $90 per cwt, the LMIC said. This increase was about $4 per cwt (5%) above the start of 2024. Compared with the five-year average, the pork cutout value tracked more than $14 per cwt (14%) higher than typical values for the start of the year.
CATTLE, BEEF RECAP
The USDA reported formula and contract base prices for live FOB steers and heifers this week ranged from $204.48 per cwt to $209.04, compared with last week’s range of $201.74 to $211.62 per cwt. FOB dressed steers, and heifers went for $320.86 per cwt to $328.84, compared with $316.06 to $327.24.
The USDA choice cutout Wednesday was down $5.39 per cwt at $325.34 while select was down $3.08 at $314.33. The choice/select spread narrowed to $11.01 from $13.32 with 126 loads of fabricated product and 34 loads of trimmings and grinds sold into the spot market.
The USDA-listed weighted average wholesale price for fresh 90% lean beef was $372.08 per cwt, and 50% beef was $109.67.
The USDA said basis bids for corn from feeders in the Southern Plains were unchanged at $1.21 to $1.31 a bushel over the Mar corn contract, which settled at $4.93 1/4, down $0.04 1/4.
The CME Feeder Cattle Index for the seven days ended Tuesday was $279.03 per cwt, down $0.42. This compares with Wednesday’s Mar contract settlement of $270.72, up $2.47.