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The National Pork Producers Council released its Q3 economic update, reporting producers have faced the worst average losses in about 20 years. Negotiated hog prices rose about 30% from May to July but remain $20 below year-ago levels, and the report discusses California's Proposition 12.
Producer losses and higher costs point to constrained hog supply, while Proposition 12 adds cost pressure that could support pork prices.
americanagnetwork.comDigital TeamJul 28, 2023After 61 past neutral report events, 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.
