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Hog slaughter last week averaged 3.5% below last year over the last four weeks, against expectations of a 0.5% increase. Processing items are tight, with fat trim trading above lean trim and bone-in ham availability reduced.
Persistent supply shortfalls and strong ham and processing demand support hog prices into October, which strengthens the pork complex's demand for feed.
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.