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Hog slaughter since September has run 1% below what the September Hogs and Pigs report implied, and Iowa-Minnesota carcass prices have fallen below year-ago levels after peaking in June at $134.41/cwt. Current prices are about 41% of that peak.
Lighter carcass weights than a year earlier also weigh on the picture.
Hog supplies appear tighter than expected while prices keep declining, which points to bearish pressure on lean hog prices and weaker feed demand for hog rations as producers sell into a softening market.
nationalhogfarmer.comRon PlainNov 29, 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.
