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Packer margins for hogs are deep in the red because the pork cutout has lagged negotiated hog prices, which have traded between $100 and $105 per cwt this spring. Cutout values have been held at $100 to $110 per cwt and have declined slightly since their March peak.
Reduced slaughter has not been enough to lift hog prices to last summer's highs.
Negative packer margins typically cut slaughter pace and hog demand, limiting hog price rallies until the cutout recovers.
nationalhogfarmer.comRon PlainMay 23, 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.
