GX_LS255
Springfield, IL    Fri Nov 28, 2008    USDA-Illinois Dept Ag Market News

Eastern Cornbelt Direct Feeder Pig Weekly Summary: Week ending Nov 28
Weekly summary includes pigs priced on negotiated, contract and formula basis.

RECEIPTS THIS WEEK: 33,273     LAST WEEK: 25,815     LAST YEAR: 33,946

TRENDS COMPARED TO LAST WEEK:  Early weaned pigs sold steady to firm. 
Feeder pigs were 2.00 to 5.00 higher.  Demand was moderate for light 
to moderate offerings.  Receipts included 40% formulated prices.

   FOB Eastern Cornbelt - Illinois, Indiana, Ohio, Michigan
RECEIPTS THIS WEEK: 25,723     LAST WEEK: 22,465     LAST YEAR: 26,336

LOT SIZE     NUMBER OF HEAD   PRICE/HEAD WEIGHTED AVERAGE PRICE

EARLY WEANED PIGS 10 POUNDS BASIS: ESTIMATED 50-54% LEAN VALUE
250-750               525      33.50-33.50     $33.50
750 or more         14763      37.50-42.69     $40.74
Total Composite     15288      33.50-42.69     $40.49

FEEDER PIGS 40 POUNDS BASIS: ESTIMATED 50-54% LEAN VALUE
250 head or less       50      30.00-30.00     $30.00
250-750              3345      44.00-51.00     $46.54
750 or more          7040      45.50-51.00     $47.77
Total Composite     10435      30.00-51.00     $47.29

SUMMARY OF TOTAL COMPOSITE for FOB weighted average prices showing variations of 
values between formula priced pigs and cash market pigs included in quotes above.
               Formula                         Cash
Basis   Head    Range     $/Head      Head     Range     $/Head
10 Lb  11363  37.94-42.69  $41.41     3925  33.50-39.74  $37.82
40 Lb                                10435  30.00-51.00  $47.29

+FOB prices are quoted on a per head basis "picked up" at the sellers farm in
Indiana, Illinois, Ohio, and Michigan; these prices do not include freight.


               Delivered Eastern Cornbelt Basis
RECEIPTS THIS WEEK: 7,550     LAST WEEK: 3,350     LAST YEAR: 7,610
Volume by state or province of origin:
Iowa 79.5%, Wisconsin 13.9%, Missouri 6.6%.

LOT SIZE     NUMBER OF HEAD   PRICE/HEAD WEIGHTED AVERAGE PRICE

EARLY WEANED PIGS 10 POUNDS BASIS: ESTIMATED 50-54% LEAN VALUE
750 or more          2000      44.69-44.69     $44.69
Total Composite      2000      44.69-44.69     $44.69

FEEDER PIGS 40 POUNDS BASIS: ESTIMATED 50-54% LEAN VALUE
250-750               500      46.00-46.00     $46.00
750 or more          5050      51.00-52.00     $51.21
Total Composite      5550      46.00-52.00     $50.74

+Delivered Eastern Cornbelt prices include freight and fees on a farm to farm basis.
++Most lots of 40-60 weight pigs have a sliding value from the negotiated weight
basis which is calculated on the actual average weight of the lot plus or minus
.25-.40 cents per pound. Some early weaned lots have a slide of .50-1.00 per pound.
+Early weaned pigs are under 19 days old.
+Estimated lean value is projected to use base slaughter weights with normal
confinement feeding conditions.
+Vaccination and health program values are not included but health status
should be disclosed.

Source: USDA-Illinois Dept Ag Market News, Springfield, IL
        Cordell Givens, Market Reporter 217-782-4925
        www.ams.usda.gov/mnreports/gx_LS255.txt

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