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Iowa State calculations show Iowa farrow-to-finish operations earned $49.85 per head on September hogs, the 18th consecutive profitable month. Negotiated carcass hog prices have typically fallen about $13/cwt from August to October, and the futures market expects corn and soybean prices to follow a seasonal pattern.
Seasonal hog price declines are typical this time of year, and lower feed costs have supported margins, so the seasonal dip is likely to weigh on hog prices until December.
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.