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USDA revised Q2 2023 US pork production down 5 million pounds to 6.635 billion pounds. May hog weights averaged about 215 pounds, nearly 3 pounds lower than a year earlier, as producers sold lighter hogs amid lower returns.
Hog prices in May averaged more than 25% below a year earlier.
Lower pork output and lighter weights tighten pork supply, supporting hog and pork prices, though sharply lower year-on-year prices reflect weak margins and ongoing supply pressure.
nationalhogfarmer.comAnn HessJun 21, 2023After 100 past bullish report events, HOGS moved a median -0.2% over 5 sessions (49% higher; middle half -1.9% to +2.0%), and -0.4% 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.
