GX_LS255
Springfield, IL    Thu Jul 2, 2009    USDA-Illinois Dept Ag Market News

Eastern Cornbelt Direct Feeder Pig Weekly Summary: Week ending Jul 3
Summary includes pigs priced on negotiated, contract and formula basis.

RECEIPTS THIS WEEK: 26,826     LAST WEEK: 27,830     LAST YEAR: 20,415

TRENDS COMPARED TO LAST WEEK:  Early weaned pigs traded steady to 1.00 
lower per head.  Feeder pigs not tested.  Demand was light for moderate 
offerings.  Receipts included 73 percent fomulated prices.

   FOB Eastern Cornbelt - Illinois, Indiana, Ohio, Michigan
RECEIPTS THIS WEEK: 22,374     LAST WEEK: 18,180     LAST YEAR: 14,386

LOT SIZE     NUMBER OF HEAD   PRICE/HEAD WEIGHTED AVERAGE PRICE

EARLY WEANED PIGS 10 POUNDS BASIS: ESTIMATED 50-54% LEAN VALUE
250-750              5259      10.00-32.51     $23.27
750 or more         17115       9.00-33.26     $25.14
Total Composite     22374       9.00-33.26     $24.70

SUMMARY OF TOTAL COMPOSITE for FOB weighted average prices showing variations
of values between formula priced pigs and cash market included in quotes above.
               Formula                         Cash
Basis   Head    Range     $/Head      Head     Range     $/Head
10 Lb  15766  24.09-33.26  $30.65     6608   9.00-13.00  $10.51

+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: 4,452     LAST WEEK: 9,650     LAST YEAR: 6,029
Volume by state or province of origin: Iowa 56.7%, Arkansas 43.3%.

LOT SIZE     NUMBER OF HEAD   PRICE/HEAD WEIGHTED AVERAGE PRICE

EARLY WEANED PIGS 10 POUNDS BASIS: ESTIMATED 50-54% LEAN VALUE
750 or more          3929      33.56-34.95     $34.27
Total Composite      3929      33.56-34.95     $34.27

FEEDER PIGS 40 POUNDS BASIS: ESTIMATED 50-54% LEAN VALUE
250-750               523      19.25-19.25     $19.25
Total Composite       523      19.25-19.25     $19.25

+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

1430c


.