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With the July lean hog contract expired, the cash index sits about $12 above the nearby August futures contract, a discount reflecting doubts about lofty wholesale pork prices. The pork cutout closed at $104.19/cwt, up 14.3% year over year, driven largely by record pork belly prices.
The wide cash-to-futures discount signals expected seasonal softening as grilling demand wanes and hog supplies rise over the next four weeks. This points to lower hog prices ahead, with bellies the key risk factor.
thepigsite.comGlobal Ag MediaJul 19, 2017Not 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.
