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Archer Financial Services says October lean hogs are the long leg of hog spreads and cattle/hog spreads. Hog slaughter is rising while cash hog and pork prices are steadily declining, and pork imports are above year-ago levels.
Beef prices are also trending down, and the firm sees a poor outlook for better hog prices.
Rising slaughter and imports point to ample pork supply, which pressures hog prices. Beef weakness could also reduce pork's relative demand.
archerfinancials.comChris LehnerAug 29, 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.
