Pork output last week declined 2.4% and was 1.8% less than the previous year. The September US and Canada total hog and pig (.2%) and breeding (3.7%) inventories were less than last year. The breeding herd was the smallest for the

date since 2004. Breeding herd reductions should cause pork output to track below the prior year levels this winter. Ham prices typically move upward soon due to holiday season demand. Last year the ham market rose 10% during the next 2 weeks. September 30th ham stocks were 1% less than 2007.