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Hog prices declined across key markets in the week ending Nov. 29, 2024.
US federally inspected slaughter fell to about 85% of 2023 levels, and the pork carcass cutout dropped to $90.93/cwt. Ontario's base formula price fell to $217.03/ckg, and Canadian slaughter was 94% of last year's level.
Lower slaughter and softer cutout values point to weaker near-term hog prices, while weaker prices and feed costs that rose modestly squeeze producer margins. Market volatility is likely to persist in the near term.
swineweb.comJim EadieNov 29, 2024Not 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.
