According to a report in the Chicago Mercantile Exchange’s Daily Livestock Report (DLR), pork carcass values have experienced $10/cwt swings three times already this year.
May 22nd carcass prices were at a year-to-date high of $67/cwt while July and August Pork Bellies were at $83.92 (down $0.97) and $81.45 (down $0.65) respectively.
The DLR also reported Crop Progress Report statistics indicating that the corn crop was 92% planted (vs. 94% last year and an average of 87% for ’01-’05) and 66% emerged (vs. 63% last year and 60% over the ’01-’05 period).
Source:
The Daily Livestock Report, May 22, 2006