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CoBank reports that US pork producers face a demanding economy, with persistently high retail pork prices and falling food-at-home spending limiting domestic consumption. Hog prices have risen but have not kept pace with feed, labor and other costs.
Weak demand and tight producer margins limit expansion of hog supply, which could support pork prices over time while constraining feed demand growth.
meatpoultry.comRyan McCarthyJul 28, 2023After 61 past neutral report events, Lean Hogs moved a median -0.4% over 5 sessions (48% higher; middle half -1.3% to +1.8%), and +2.1% 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.
