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Hog slaughter was near 2.7 million head last week as producers moved hogs that had backed up due to winter storms and holidays. Pork belly prices remain far below last year's levels because of plentiful freezer supplies, and spot ham supply has increased.
Heavy slaughter and weak bellies are dragging the pork cutout and hog prices lower in the near term, which lowers the hog price outlook for feed buyers.
porkcheckoff.orgJan 21, 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.
