. Agri-news. Agriculture. September 22, 1975 FOR IMMEDIATE RELEASE HOG PRICE PROSPECTS Although hog price forecasts are no more than an 'educated' guess at this time, it seems fairly safe to say that they have probably reached their limit at $80 to $85 a hundredweight. This is the opinion of Jim Dawson, marketing economist with Alberta Agriculture, who points out that even though there is not enough production increase in sight over the next six months or so to depress prices, there are other factors to consider. These include the likelihood of a plentiful supply of lower-priced beef well into
. Agri-news. Agriculture. September 22, 1975 FOR IMMEDIATE RELEASE HOG PRICE PROSPECTS Although hog price forecasts are no more than an 'educated' guess at this time, it seems fairly safe to say that they have probably reached their limit at $80 to $85 a hundredweight. This is the opinion of Jim Dawson, marketing economist with Alberta Agriculture, who points out that even though there is not enough production increase in sight over the next six months or so to depress prices, there are other factors to consider. These include the likelihood of a plentiful supply of lower-priced beef well into the new year; cautious buying on the part of the consumers and lower seasonal demand during the winter; and the fact that Eastern Canada is coming back into pork production faster than the West. "In view of these factors," says Mr. Dawson, "it would be possible for prices to go back down to the low $70 s or even the high $60's. The latest Iowa Farm Outlook gave a very tentative forecast for 1976 of prices in the high $40 range ($61 to $54 d'essed equivalent) for the first half of next year and possibly slightly lower in the last half of the year as some production increase begins to show. Canadian Supply Prospects Mr. Dawson says hog producers will be exercising caution in their production decisions until feed grain prospects become clearer even though prices have been attractive throughout the summer. He believes that if the traditional hog cycle is repeated, the upward trend in production should show in late 1975 or early 1976. This increase would reflect breeding decisions made late last spring. Agriculture Canada has estimated gradings for the six month period from the end of September 1975 to the end of March 1976 will average 160,000 a week, which would be up 20,000 a week from the current quarter. Although this situation would indicate the beginning of the upward trend in hog production, the market volume would still be very low. - (cont'd) - 5. Please no
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