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North American hog prices rose more than 25 percent in recent weeks as cash prices climbed on strong export demand and fewer hogs reaching market. USDA inventories showed pigs of 120 lbs and heavier up year over year.
Analysts noted that the COVID-19 pandemic had caused plant shutdowns and slaughter backlogs.
Tighter hog supplies and strong export demand support pork prices and hog feed demand. Seasonal fall pressure may be offset by lower slaughter numbers.
journalgazette.netWALT, ALEX BREITINGER, Associated PressOct 23, 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.
