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Lean hog futures have been volatile over the past three months as traders price potential tariffs on Mexico and Canada while spot supply runs below expectations. Slaughter is lower than expected, leaving less trim and pushing product values higher, while bellies have been volatile and ham demand from Mexico has softened after front-loaded orders.
Tighter hog supply and seasonal demand support pork product values, but tariff-driven export uncertainty and weaker Mexican ham orders add downside risk to hog prices.
porkcheckoff.orgFeb 27, 2025Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
