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Cash hog prices closed steady to sharply lower on a light negotiated run, and October lean hogs fell $1.12 to $80.72. Cattle futures were mixed while the Callaway feeder sale showed good demand.
Weaker cash hog bids signal soft near-term pork demand and pressure hog margins, which can trim hog-feeding and feed purchases. The move is a routine price update without a new supply shock.
brownfieldagnews.comBrent BarnettAug 29, 2023Not enough comparable past events yet for a historical read.
Not 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.
