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Pork cutout values have been strong this fall, averaging $97.46/cwt over the last eight weeks and running $8.62 above a year earlier. Iowa State estimates October profits for typical farrow-to-finish operations at $9.30 per hog, the best October since 2021.
Lower corn prices have pushed hog production costs down to $82.29/cwt, the lowest since December 2021.
Strong cutout and falling feed costs support hog producer margins and hog demand for feed, while cheaper corn helps the feed-cost side. Hog prices have lagged the cutout, which could leave room for further gains if the strength holds.
nationalhogfarmer.comRon PlainNov 25, 2024Not enough comparable past events yet for a historical read.
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.
