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US packers were running strong weekly hog kills, with a Tuesday count of 492,000 head and a target near 2.7 million for the week. Pork export sales added 35,000 metric tons of new forward commitments, though China bought only 2,500 metric tons.
Analysts flagged COVID-related labor concerns at plants and an abrupt correction in prices.
Strong slaughter reduces hog supplies and supports pork prices, but weak China buying and possible plant labor disruptions limit demand. Hog price softness reduces the incentive for producers to expand feed purchases.
feedstuffs.comOct 30, 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.
