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Dave Delaney of Ever.Ag said packers are cutting back slaughter, with hogs backing up in the market and some going unnegotiated. Pork cutout is around $100 and overall pork demand is described as acceptable, though foodservice demand is pinched.
Packer slaughter cuts and unsold hogs signal weak demand for live hogs, pressuring cash prices.
porkbusiness.comMaggie MalsonJun 24, 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.
