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Lean hog futures traded near the second-highest level in the contract's 50-year history, supported by strong cash prices that averaged $110.01 per cwt mid-June. Wholesale pork prices were moving toward all-time highs, up about 25% since April.
Slaughter disruptions at JBS and the Memorial Day holiday slowed marketings.
Tight near-term hog marketings support hog prices, while expected seasonal increases in summer supplies may cap further upside, leaving limited direct effect on feed demand.
thepigsite.comMegan HowellJun 12, 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.
