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National negotiated barrow and gilt carcass prices averaged $66.62/cwt, down $3.26 on the week amid large hog slaughter. Pork cutout fell $10.52 to $78.85/cwt with belly prices down 31%.
June pork cold storage stocks were 4.7% below the prior month and 7.7% below a year earlier.
Large slaughter and sharp pork price declines weigh on hog prices, while lower-than-year-ago frozen pork stocks partly offset the bearish supply picture.
thepigsite.comGlobal Ag MediaJul 31, 2016Not 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.
Weekly cutout fell $10.52 with bellies down 31% and negotiated carcass prices lower amid large slaughter, a fundamental driver of futures weakness.
