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Pig Site reports that US hog slaughter in February ran about 5% above a year earlier, with processors bidding up hog prices as wholesale pork demand rose. Pork sales of about 2.4 billion pounds were nearly 5% higher, and cutout values were up 8.3%.
Higher wholesale pork demand and firm cutout values support hog prices and give processors margin to pay up for hogs, which lifts hog market values for feed buyers.
thepigsite.comMelanie EppMar 1, 2024After 100 past bullish report events, Lean Hogs moved a median -0.2% over 5 sessions (49% higher; middle half -1.9% to +2.0%), and -0.4% over 20.
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.
