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Producer-owned hogs averaged 72.30 cents per pound lean in the week, below farrow-to-finish production costs near 89 cents, with losses around $40 per head. The US-Canada breeding herd is shrinking, with the USDA December 1 breeding herd at 5.999 million, down 206,000 from June.
Cutout values were 88.56 cents per pound.
A shrinking breeding herd and heavy producer losses point to tighter future pork supply, which is bullish for hog prices and supports demand for feed over time. Near-term pork demand is holding up.
thepigsite.comLaurence WilliamsJan 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.
