U.S. Midwest hog prices steady to $1 higher, supply tight

Fri Jun 7, 2013 10:53am EDT

June 7 (Reuters) - Cash hogs around the U.S. Midwest traded
steady to $1 per cwt higher on Friday. Supplies remain short,
with dealers saying they expect further tightening next week.
    - Saturday slaughter seen very light, at zero to 5,000 head,
as packers were cutting kills amid the short supply.
    - Some of the drop-off in market supply is credited to
Porcine Epidemic Diarrhea Virus (PEDV), with cases detected at
103 hog sites in 11 states. 
    - Hog owners hit by PEDV had a decline in pig and hog input,
which forced them to slow production. "It is too early to tell
how much herd devastation this virus will cause," an Illinois
dealer said. 
    - Check this website for PEDV updates: (here)
    - The U.S. Department of Agriculture on Friday estimated
average cash margins at a negative $6.90 per head, compared with
Thursday's negative $5.35, and a negative $2.65 a week ago,
according to HedgersEdge.com..
    - USDA late on Thursday quoted the pork carcass cutout value
lower for a third consecutive day at $94.94 per cwt, down 28
cents from the previous day. 
    - Iowa/southern Minnesota hogs traded steady at about $71
per cwt delivered to packing plants.
    - Illinois hogs were steady to $1 higher at about $71 per
cwt delivered to plants.
    - Indiana hogs were $1 higher at about $68.50 per cwt
delivered to plants and $69.50 per cwt at country points.
    - Northwest Ohio hogs were $1 higher at about $72 delivered
to plants and about $69 at country points.
    

 (Reporting by Alyce Hinton in Chicago; Editing by Dale Hudson)