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US lean hog futures slipped to their lowest since 7 October on 11 November as daily slaughter fell 6 percent week over week to 459,000 head. Traders questioned whether the slower pace would back up production and pressure prices, while possible pork exports to China provided support.
Slower slaughter tightens near-term supply, which could support prices if backlogs build, but weaker domestic pork demand offsets the effect and keeps hog futures under pressure.
thepigsite.comMegan HowellNov 12, 2020Not 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.
