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Average carcass prices for producer-sold hogs through late August were $57.43/cwt, down $13.23 year over year, with negotiated barrow and gilt prices averaging $41.77. Hog slaughter is up 2.0% in 2020 but below pre-COVID levels, and futures imply 2021 carcass prices about $13/cwt higher.
Record hog supplies and COVID-related packing cutbacks keep current hog prices depressed, while futures point to recovery in 2021. Lower hog prices reduce near-term feed demand expectations.
nationalhogfarmer.comAug 31, 2020After 159 past bearish report events, HOGS moved a median -0.2% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +1.0% over 20.
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.
