Loading…
On July 9, hog futures were pressured by estimated packer cutting margins of $9.65 per head below breakeven, which pointed to softer cash hog prices as supplies build seasonally. Wholesale pork prices fell sharply that week.
Separately, the FAO food price index fell 2.5% in June.
Packer losses reduce hog demand and point to lower cash prices as supplies rise. The global food price decline is a secondary factor for feed markets.
thepigsite.comSarah MikesellJul 9, 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.
