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Lean hog prices have fallen more than 17 percent over six weeks, from nearly $90/cwt in late February to about $74.52 on April 3. Analysts attribute the drop to heavy pork supply in cold storage, rising hog weights, and weak Chinese demand for U.S. pork despite African Swine Fever in China.
Excess pork inventory and heavier weights increase near-term supply, pressuring hog futures and signaling softer pork demand for feed-using producers.
hoosieragtoday.comDigital TeamApr 4, 2023Not enough comparable past events yet for a historical read.
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.
