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An economic outlook presented at the World Pork Expo says consumer sentiment has softened since 2022 as incomes fall. Hog slaughter is up year to date while breeding herd utilization is at its lowest since 2015, and economists expect lean hog prices to decline in late 2023 before recovering in 2024.
Expected herd reductions point to tighter hog supply into 2024, while softer demand and lower late-2023 prices weigh on near-term pork values.
porkcheckoff.orgJul 10, 2023After 37 past macro events, HOGS moved a median -0.4% over 5 sessions (46% higher; middle half -2.2% to +2.4%), and +0.0% 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.
