Weekly Hog Market Update: Price Gains and Steady Slaughter Rates Define North American Markets

Nov 18, 2024

Ontario Market Highlights: The Ontario market saw a rise in the 100% Base Formula Price, reaching $226.88, compared to $219.71 last week and significantly above last year’s price of $190.28. Weaned pig and feeder pig values are also trending upwards, now accounting for 26% and 41.25% of the Base Formula Price, respectively.

Canadian Market Overview: Quebec’s Pool Price and Manitoba’s Calculated Hog Value experienced slight increases as well, with the Canadian dollar stabilizing around 0.7188 USD. National hog slaughter numbers reached 429,756, marking a slight uptick from previous weeks but remaining below historical highs.

U.S. Market Snapshot: Federally inspected hog slaughter in the U.S. remained steady at 2.6 million, showing a 1% increase year-over-year. The USDA Pork Carcass Cutout slightly decreased to $101.59, with lean hog futures displaying moderate adjustments across contract months.

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Video: Supplemental Nitrogen on Soybeans: Can Early Nitrogen Increase Yield?

Can supplemental nitrogen help soybeans reach higher yield potential? Technical Agronomist Tim Sickman walks through an ongoing trial at the Nutrien Innovation Farm in Owensboro, Kentucky, exploring whether a modest amount of nitrogen applied at planting can support higher-yielding soybean environments.

The trial compares 30 pounds of supplemental nitrogen across both 15- and 30-inch rows, along with treatments that include sulfur and micronutrients. Similar trials conducted in 2024 and 2025 delivered a six- to seven-bushel yield response, prompting the team to expand the research this season.

Early observations show that treated soybeans are slightly taller and averaging about two additional nodes on the main stem. These added nodes could create more opportunities for blooms and pods, but the true results will come at harvest when the team evaluates pod development, seed fill and final yield.

In This Video:

Why high-yield soybeans may need supplemental nitrogen

Results from the 2024 and 2025 trials

Nitrogen treatments in 15- and 30-inch rows

Fertilizer placement and application methods

Differences in plant height and node counts

Potential effects on pod development and yield