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USDA's Economic Research Service outlook shows October federally inspected hog slaughter at an estimated 10.9 million head, down 1.5% year over year. Live equivalent 51-52% lean hog prices averaged $67.78/cwt, up 7.9%, while the wholesale carcass cutout averaged $101.15/cwt, down about 1.4%.
Processors face higher hog costs and softer pork values, so spreads narrow and packers may cut slaughter, keeping support under live hog prices.
porkbusiness.comPaige CarlsonDec 13, 2022After 100 past bullish report events, Lean 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.
