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Lean hog futures hit their lowest level in about four weeks, down roughly 8% since Nov. 7 amid ample US supplies.
USDA reported about 450,000 hogs slaughtered and frozen pork belly stocks down 31% year over year.
Ample supplies and lower pork cutout values point to weaker hog prices, which limits producer margins and feed buying.
ukragroconsult.comNov 24, 2023Not 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.
