xt73tx352m87 https://exploreuk.uky.edu/dips/xt73tx352m87/data/mets.xml   Kentucky Agricultural Experiment Station.  journals kaes_circulars_004_515 English Lexington : The Service, 1913-1958. Contact the Special Collections Research Center for information regarding rights and use of this collection. Kentucky Agricultural Experiment Station Circular (Kentucky Agricultural Experiment Station) n. 515 text Circular (Kentucky Agricultural Experiment Station) n. 515  2014 true xt73tx352m87 section xt73tx352m87 i.
At Wh t WEIGHI `
F E E D E R P I G S. i
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By Robert W. Rudd l
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Circular 515
1OM·l‘i‘ii
y Kentucky Agricultural Experiment Station ·
University of Kentucky
_ Lexington i

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z This circular is based on a study reported in Kentucky
a Agricultural Experiment Station Bulletin 584, An Amity- 1
" sis of Feeder Pig Prices in Central Kentuck!/» by Robert _
l KV. Rudd. See also Kentucky Circular 504, ll/IICH \VilZ °
  Feeder Pigs Bring Highest Prices? ‘
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At What Weight Should I Market My V
Feeder Pigs?
` By Robert W. Rudd
Answering this question will help the producers ol leeder pigs _ (
who {it into one of the Following production situations: (ll the
. producer who prefers to market shoats at a particular weight,
_ usually determined in part by the way the hog enterprise fits into _
the rest ol? his [arming operations: and (2) the producer who has  
greater llexibility in the hog enterprise and can adapt his planned
marketing weight l`or leeders to lit price opportttnities.
When During the Season Do the Different Weights
  af Feeder Pigs Bring Highest Prices?
In answering this question, feeder pig
./\_ sales at live central Kentucky auctions over
  { L . ( , Y . . .
®y)‘ to weight: under
. UE;i§_X`/{ ¤ h . n .m l
  80 pounds. or lightweights: tnediutn weights,
\”i 80-119 pounds; and heavyweights. 120-159
pounds.
R Llghfweights average highest in May
$$$ Lightweight leeders reach a seasonal peak
  in price in May with _]une and july almost
3;,;,;; _;   as high (Fig. ll. ;\l`ter the seasonal peak in
I . 4 •
l;;$§?•%,Z§°,L2; May. the slight decline to _]une and _]uly is
9 . . . .
iss .$ lollowed by a lurther lowering ol seasonal ,
`$$$$$$$$$ prices to the season`s lowest prices lor light-
V l\`t‘lgl1ts. in 1)ecen1l>e1`.
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[ um. rss. mn. Ara. any June .•u•.w wc. sen. com nov nzc K
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Fig. l-Average seasonal variation in prices of feeder pigs weighing under 80 pounds `. \\
at five central Kentucky auction markets, l926-48
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ann. ree. mn. APR. MAY June num Aus, san. oem nov. ¤
Fig. Z- Average seasonal variation in prices of feeder pigs weighing 80-H9 pounds °l Fi
five central Kentucky auction markets, 1926-48 · °`

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S     Medium-weight feeders peak in July l
Medium-weight leeders brine highest sea-
$$$$$$$$$ ° D O
`—_ ’ $ JULY $ sonal prices in july, on the average, with june
Y gi if 4 Z 3 Ji and September ranking next. The last three
` . | 20 RI _ _ _
M.; $;; is U ,, $ months of the ear show stead rice declines
, Y $ $ Y Y P
, Y $"’° " 9;, with the lowest price for medium-weight feed-
    $$$$$$$$$ ers being reached in December (Fig. 2) . l
l l l
l   Heavyweight pigs tap average price in July also
. LL$$$$$$$$ Heavyweight feeders show relatively Y
T $ JULY $ weaker prices in the spring than light and Q
;; . $Q i’ ` .Zi..i$ Jmedium wei hts. Highest rices for the
` $.:. [ is 202I$ g D P
jl in 2 zszvzag heavyweights come in july, on the average,
l $2° °° " $ followed by August and then September.
l $$$$$$$$$ The typical decline in price in the last quar-
lf °E° . ter ol? the ear to a low in December found in light and medium
L y D
r pounds 1 weights also occurs for heavyweight feeder pigs (Fig.   .
  ..¤ it---- S --I
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E>YiDE° 0 JAN. ras, nan, nn, nav Jun: JULY AUG. SEPT 0cT. NOV. DEC.
P°“"d$ °t Fl9·_3` Average seasonal variation of prices of feeder pigs weighing l20-l59 pounds A
ut hve central Kentucky auction markets, l926-48

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E What Wei hts of Feeder Pi s Brin . ·
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_ Highest Prices Seasonally?
  r ln answering this question. the 2*
l   seasonal patterns of prices <>|’ feeder $5
it pigs were acljustecl to allow for the t z"
i   see: average cliilereuce in price between F `
jér S 5 lll . V .. .  
,   weight groups. lo make mterpreta- @
ticm easier. the seastmal movements md
I r
nl rices and the )l`1C€ (llilGl`€ll(E€S l>€L\\‘ee11 Wewlit 0`l`(,)ll Ds of leeder _
D G em
’ pigs are expressed in terms ol a seasoirs average price for lieccler
pigs ull $20 per l00 pouucls (Fig. 4) . Mel
'.   ' $3
l nzrmvc snsorut rmcrs tg
----- ricnruzicnr rzcnzns ` $
-- uzmuuwcgcnr rzcnzns $
22 ,—`__ -— wnvvwcicnr rzsucns $
l / `·· " "\ meas An: susan on A Q?
[ ,’ \ snsovvs Avzrucz or s zo.co r$
{ »’ \ vn uuunnco rouuns. ,$$
. gi li \ — »%
¤ /`\\ .
/ .
ll / §);4’_;§` F
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l ¤ _/' / \ $9
g 2 /.//»~\__'_,...J > $¢
Q is »' \ $
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é é é Z
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é é Q   ricmwzicur rzcnzns. _  
Z Q °`· mcs oirrcncncc rrmm ucniuuwsicm ~ Q
’ - uzurunwcmnr rcaucns iaixsci
_: Q nzivvwcncrir rzcnzns,
mcs nirrsnaucz mon ucpiuuwciws _ p
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me rn. inn. nn. nu run; wu wc. scvr. oar Mov. °‘°
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Fig. 4-—C0mpurns0n of average seasonal rice patterns of feeder pigs acc0rd\¤9 '° llll
weight at five central Kentucky auction markets l9Z6-48, expressed in fefmi ° wg]
seas0n’s average price of $20 per lOO pounds

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‘ Lightweights highest relative to other weights in May
Com arison of the seasonal >rice atterns
ssssssssss I P
· the $ MAY i adjusted to show price differences aeeording
Us · l 2 3 ‘ 5 . . . . .
~°d€l is 1 Z ¤ ij :· ·;$ to weight shows that lrghtweight leeders bring
. · · . . = . e . . ‘ _ _
[ [lm  ni Inghest prices relative to other weights in May
“'€€“ $ $ $ $5;; (when lightweights average highest seasonally
?l`€m` ‘ $$5 ` also) . with _]une and April ranking next in the
llems order. It should be remembered, ofcourse, that such price differ-
Cedel ences vary considerably from year to year.
eeder
Medium weights draw more July through November E
$$$$$$$$$ Medium weights ol’ feeder pigs have prices '
ss ;JULQé`%GN€$_PT·§ averaging highest relative to other weight
ERS i E groups in ]nly and September. Medium
as { * " ‘ . ` . . .
·. » ,_ [py $ weights rank above other weights in price
`°°° » ;$$$ $$$; [rom _]uly through November, however.
Feeders of heavier weights bring less throughout the year
p$$$$ $$$$ Heavyweights, on the average. tend to
2$A]_LYEAR ROUND$ bring less than other weight groups through-
@ \ _€\; out the year. Since this difference is oliten .
li   quite small, it appears that in view ol? the
\ te " ·; seasonal pattern ol price, _}uly, August. and
\\ $$$$$$$$$ September are important high—price months
lor heavyweight leeder pigs. despite price differences which liavor
4 the lighter weights.
Price-weight differences are of major importance at times
y ` Q_ Q The inlluence ol? average weight ol`
x®§`vt\~‘~° \vv\Tl v\&\*$°     ml , .l, . q,].
q Q Q vim Q_ pigs on pi ite lh not s iovsn at equate y ry
g   the small amounts ol; price dillierence r
¤¤¤¤*·T$   between weights lor leeder prgs on an
f %§i average seasonal hasis. For the period
s % . . .
"°'°°“ gw? ? 9 0 l€l2(1—48 some surprising extremes have
· l945 19+8 ' ° .... .
°"· °°°‘ IQSMSSB occurred in this pr1ce—we1ght relation-
Drding to *l*1pat the live central Kentucky auctions. l.:u`gesl pl`CnlillmS   r
fu   I. . ‘ _ _ _ _ 4
""S ° MK ]>·ll€l pound

  `
1 1 feeders averaged $5.68 more per 100 pounds than the prices paid L°w
1 1 for 40-50 pound feeders. In contrast, largest premiums for light
  1 weights occurred during the last hve months of 1048 when buyers pz
on the central Kentucky auctions paid an average of fliéfi.24 inurr s  
A per 100 pounds for 40-50 pound feeders than for 140-150 pouiiil
I animals.
1 pricr
1 addi
~ Hog-Corn Price Ratio May Alter the Picture 1 poss
It has been pointed out that there llf'?
1 1   ` hgures are averages for a 23-year peririrf. llllll
1   "   Individual years may, and did in sei- (ll lf
\     eral instances, differ widely from the _
1   '9 average pattern. One of the reasum lm?
1   for season-to-season changes in tlit um
1 price-weight relationship for feeders is HP1);
the influence of changes in the relative prohtability of feeding l. {CC0
1 corn to hogs. Often this prohtability is measured by the Img- ml"
1 corn price ratio. This ratio represents the number of buslids Hm
1 of corn required to equal in price 100 pounds of live hog. 'flit Ul U
relationship between weight and price of feeder pigs has lmii
measured by averaging the premium or discount in price pri _
100 pounds associated with a 10-pound increase in average weiglii _
for feeder pigs in the range between 4() and 160 pounds. J_
High hog-corn ratios usually mean price premium an lightweight!  
f\ only   lu general. when the hog-corn piiitt  
  °?¤l‘°°""i~~.,   ratio is favorable (for example: lfiilf
  ii:     C01`!1 l:€€(lCI`S Want lightweight pigs sor
I   to get a maximum conversion of conf 1** I
 ._,/i' hogs at the favorable ratio. ,\1 sutll .1101
times price premiums are paid for lightweight feeders :rs<`<¤1l‘  
pared with the heavier feeders. L

 . g i
fs pm Low hog-corn ratios favor the heavier weights of feeders
ir ligltt- i  W, 7, - _ \Vhen the hog»corn price ratio is
¤l>\1)'€1`S . 2°    unfavorable (for example: 8:1) the
T4 Hltttv `  heavier feeders tend to get price pre-
' ptllllltl I miums relative to lightweights. There
T   are two reasons for relatively higher
prices for heavy feeders when hog-corn price ratios are low. In
zttldition to the wish on the part of hog feeders to feed as little as
possible of the relatively high-priced corn to bring hogs to market
M thm weight, there is also the "two-way" market possibility for feeders, i l
_l)Cm(lv with lighter weight slaughter hogs—some in the heavier weights  
{ in M of l`eeders—going for slaughter during such periods.
mm thc The influence of the hog-corn price ratio upon the relation of
Tcimm weight to price of feeder pigs is of a rather broad nature, and does
in mc not follow closely on a month—to-month basis (Fig. 5). It is
Ccdmis apparent. however, that relatively higher prices for lightweight
Eeedm - feeders generally are paid during times when the hog-corn price
the IW ratio is higher than average, and relative price advantages in
bmlwh tttarketing the heavier weights of feeder pigs usually come in times
Og. rm ol unfavorable hog-corn price ratios.
tas limi ·
irice per _
ge weigltt A Word of Caution
t In using the information presented here the pro»
  ducer should keep in mind three points:
4 I Al (1) The seasonal patterns of prices shown here
htweighls   are rwerages; individual years may differ widely from
nm Pm. g   the pattern of these averages. However. such results V
C: lm), __  do give a basis for a [miler gztcss as to price patterns
Pigs W _,, ol l one can- expect. for feeder pigs. · l i
J (_m.HI,, f-yl Alter considering the price-weight relationship based on
Al wl, fl'€<`lHtt‘t shown here, due allowance should be made for the influ-
S Us Um,. °“(`<` Ul the hog-corn price ratio in deciding what sort of relation
l"€\P€<‘l between price and weight in a particular year.

 ,   I . `
I 111 ·
1?
1
Q PREMIUM (+) OR DISCOUNT (··) IN PRICE FOR EACH 5 r  
I IO·POUND INCREASE IN AVERAGE WEIGHT E WIC-
1 { (CENTS PER HUNDRED POUNDS) : 1I1(‘ 0
L O g 0 0 0 0 0 0 2 I,
°° '~° * °' O *-F Y *9 °P -5,
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(fi) All these points relate to one side of the fence—the price I
g sidc. lCrualI· im ortant from the roducer's oint of view is
g i
"' thc other s1de—the cost side.
In the choice oi time and we1<¤·ht for market1n¤‘ feeder ws,
E D G 0
9 the roducer should Give due consideration to the differences in
2 P G
,1, rosts which he may encounter in' raising pigs for market at differ-
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