Last week’s cash trade averaged $153.55 according to USDA’s closely followed five area report. This is 3% over last year’s $149 average price in the same week. Free market sales were a bit over the previous week’s incredibly small level.
Wholesale pork is now at its highest level since Feb. 22. Cash hogs are at their highest level since Jan. 29. It is great to see this market is reacting to lower supplies that are now being offered. Our only real criticism of this rally is that it is coming very slowly.