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Analyst Dave Weaber expects Q2 2023 hog slaughter and pork production to be near year-earlier levels, with Q3 seeing slight gains. He forecasts cutout values could rally to $90-95/cwt and producer-sold hogs to the low $90s during Q2, while noting a U.S. Supreme Court ruling on California Prop 12 is pending.
Expected stable-to-tighter supplies could support a seasonal hog price rally, modestly increasing demand for feed grains if producers expand, though gains are expected to be limited.
terrainag.comDave WeaberApr 27, 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.
