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Weather-related disruptions cut hog slaughter below 2.4 million head in the week before August 19, but supply is expected to recover. Pork prices came under pressure in the following days, and hog futures have been trending lower.
Belly and ham values fell sharply after a short-lived late-July rally, while loin prices have held sideways.
Rising slaughter and weak futures point to ample pork supply and export downside risk. Buyers can expect firmer loin values later in September for retail promotions.
live.porkcheckoff.orgAug 19, 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.
Pork Checkoff describes hog futures trending lower with belly and ham values falling sharply after a short-lived rally, and supply pressures expected to return, which directly fits the 5-day drop.
