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U.S. cash lean hogs in Iowa-southern Minnesota averaged $106.15/cwt, staying strong. Jim Long expects lean hog prices to keep rising as supply declines and sees June futures, which closed at $118.17, moving higher.
He points to sharp hog price gains in Germany and the EU, where slaughter numbers have fallen.
Declining hog supply in North America and Europe supports hog prices, which can encourage herd rebuilding but currently reduces pork supply. Higher hog prices improve producer ability to absorb feed cost increases.
thepigsite.comLaurence WilliamsMar 16, 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.
