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CME February lean hogs fell for the eighth time in nine sessions to a three-month low on January 10, as the pork cutout slid to its lowest level in a year at $81.73 per cwt. Packer margins eroded sharply, with the average estimated at $4.65 per head, down from $15.00 a week earlier.
Weak pork cutout values and collapsing packer margins signal reduced demand for hogs, pressuring hog prices and the cost outlook for feed buyers.
agriculture.comReutersJan 10, 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.
