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Steve Meyer of Ever.Ag said US pork market conditions are better but still poor, with break-even costs down to about $87 from above $97 last year. He expects break-evens to stay in the $80s for several years as non-feed costs rise and demand softens somewhat.
Persistently high producer costs and softer demand suggest limited upside for hog prices despite some supply discipline. This is an outlook opinion rather than a new market shock.
thepigsite.comSarah MikesellJun 27, 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.
