The rapid drop in hog prices in Ontario isn't over yet.
Ontario Pork spokesman Patrick O'Neil suggests prices should start levelling off in the next few days after what he calls a rapid and terrible ride down.
O'Neil points out the Ontario Pork formula price for hogs is based on what's happening in the U-S.
He says American packers have been surprised by the number of hogs coming to market.
O'Neil says it's taken those packers time to get their Saturday slaughter shifts lined up to handle the added volume.
He also says the seasonal trend normally means a low point in pork prices around the U-S Thanksgiving, which is coming up later this month.
While not ready to predict a rebound in Ontario hog prices, O'Neil does expect the decline to level off in the near future.
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According to O'Neil, it's taken American packers time to get their Saturday slaughter shifts organised to handle the increased volume.
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O'Neil says the Ontario pricing formula is based largely on prices being paid in the U-S.
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O'Neil says U-S prices drive what Ontario farmers get paid.
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