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Steiner and Company's Profit Maximizer report says pork prices collapsed faster than expected in August, driven by seasonal supply increases, slower export sales and inventory depletion. Pork belly inventories at the end of July were 53% above last year, and pork trim prices fell sharply the prior week.
Slaughter is expected to reach about 2.5 million head by mid-September.
Heavier supply and large belly stocks point to continued weakness in pork values, and ham sales to Mexico may provide only limited support into the fall.
porkcheckoff.orgAug 29, 2022Not 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.
