U.S. Midwest hogs trade steady to up 50 cents on tight supply

Mon Jun 10, 2013 11:13am EDT

June 10 (Reuters) - Cash hogs around the U.S. Midwest traded
steady to 50 cents per cwt higher on Monday, supported by tight
hog supplies and moderate packer demand, dealers said.
    * Hog numbers were tight seasonally but also because some
producers have reduced their herds amid high feed costs.
    * Hog supplies were also thinned by the outbreak of the
Porcine Epidemic Diarrhea Virus (PEDV), which has been detected
in 11 states. 
    * Pork packer demand for hogs was solid despite weak
margins. Consumer demand for pork normally rises in the spring
as outdoor grilling increases.
    * Average pork packer margins on Monday were estimated at a
negative $6.85 per head, compared with a negative $6.90 on
Friday and a negative $2.20 a week ago, according to marketing
advisory service HedgersEdge.com. 
    * The U.S. Department of Agriculture late on Friday quoted
the pork carcass cutout value at $96.51 per cwt, up $1.57 from
the prior day. 
    * Iowa/southern Minnesota hogs traded steady at about $72.00
per cwt delivered to packing plants.
    * Indiana hogs traded 50 cents higher at about $70.00 per
cwt delivered to plants and $69.00 per cwt at country points.
    * Hogs in northwest Ohio hogs traded 50 cents higher at
$73.00 delivered to plants and $69.00 at country points. In
southeast Ohio, top hog prices were $70.50 delivered to packing
plants and $69.50 in the country.
    * Illinois hog prices were not immediately available.

 (Reporting by Karl Plume in Chicago; Editing by David Gregorio)
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