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U.S. lean hog futures reached new contract highs from May to May last Friday, with June futures up about 38 cents/lb since October. Analyst Jim Long reports US cull sow prices jumped over 40 cents/lb in recent weeks and European hog prices have risen in parallel.
He expects October-December hog futures to have significant upside.
Shrinking breeding herds and rising sow slaughter-cull prices point to tighter pork supply, supporting hog futures. Higher hog values bolster producer willingness to pay for feed, though the commentary is largely a price outlook.
thepigsite.comLaurence WilliamsMar 31, 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.
