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HAMS Marketing Services reports that the cash hog market faces seasonal price pressure on Dec. 1, 2021, while futures look good.
Uncommitted hogs are trading at a discount to contracted hogs as packers resist paying extra for supplies they need less of. US hog numbers are running 3 to 4% below a year earlier.
Seasonal cash weakness is pressuring spot prices, but lower US hog numbers keep the futures outlook firm. The split between committed and uncommitted hog prices shows packers are selective about supply.
swineweb.comJim EadieDec 1, 2021Not 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.
