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Hog slaughter ran well below year-ago levels for two weeks due to packer maintenance and operational disruptions. Fresh pork demand is weak, with loin and picnic primal sales down year over year, and export and retail softness are weighing on the market.
Limited spot hog supply lifts belly and ham prices, but weak fresh pork demand caps the cutout and hog futures rally.
Not 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.