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Front-month lean hog futures opened the week of June 27 with losses of $0.65 to $1.90. USDA's National Average Base Hog price fell $5.10 to $115.13, and the pork cutout closed $3.17 lower at $109.03.
Analysts expected the upcoming Hogs and Pigs report to show a June 1 inventory about 0.7% lower year over year.
Falling hog and pork cutout values reduce the value of live hogs and point to weaker packer demand. Pre-report positioning added to the downward pressure.
swineweb.comJim EadieJun 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.
