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Analyst Jim Wyckoff notes that lean hog futures are trending higher and that traders expect a strong US hog market recovery next year. Weekly slaughter of 2.629 million head was 3.6% below last year, and USDA projects meat prices rising 5-6% in 2021, with pork up 7-8%.
African swine fever was also reported in Romania.
Lower projected slaughter and higher pork price forecasts support hog futures, though large production could repeat the usual year-end cash low.
thepigsite.comSarah MikesellNov 26, 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.
