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Notes: unless otherwise noted, comments correspond to the week ending November 1st, 2024.
The Cutout closed at $1.02, four cents higher compared to the previous week and 15 cents higher than the same week last year (See chart).
Meat production under federal inspection was 566 million pounds, 14 million pounds more compared to the previous week and three million pounds less than the same week in 2023 (See chart).
Prices of swine closed at $0.83, six cents higher than the previous week and 14 cents higher than the same week in 2023 (See chart).
Our estimate for Gross Packer Margins for the week was $64 per head, $6 higher than the previous week, and $17 higher than the same week in 2023.
* Gross Packer Margin data is only available in our Advanced Analytics suite.
The reported figure for the week ending 10/24/2024 was 71.2 million pounds, half a million pounds higher than the prior week, and 7.6 million pounds higher than the same week in 2023.
Lean Hogs Futures for December 2024 contracts closed at $0.84. For February 2025 contracts the price closed at $0.86.
Our 8-week forecast puts the Cutout price at $1.18, 16 cents higher than the $1.02 for the current week (See chart).
* Forecasts for specific meats cuts are only available in our Advanced Analytics suite
EVENT | DATE | LOCATION |
MEAT & GRILL DAYS 2024 | November 9-11 | Athens Metropolitan Expo, Attica, Greece |
SIPA 2024 | November 14-15 | Guadalajara, Jalisco, Mexico |
Banff Pork Seminar | January 7-9 | Banff, Alberta, Canada |
You can find a more comprehensive list of industry events in our Events section.
Pork
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The EMEAT Team
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