Loading…
The National Pork Producers Council reports on its meeting with Agriculture Secretary Vilsack, who discussed a USDA Section 32 purchase of $50.1 million in pork loins for food assistance programs. The pork industry is facing its worst run of average losses in more than 20 years.
The update also covers May pork export growth and trade policy.
The government purchase adds a modest source of demand for pork products and may give some support to hog prices. Ongoing losses and export trends still point to a weak fundamental backdrop for the sector.
nppc.orgNews NPPCJul 14, 2023After 37 past bullish policy events, Lean Hogs moved a median +0.0% over 5 sessions (51% higher; middle half -2.8% to +0.9%), and +0.2% 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.
