Loading…
Tyson Foods idled its largest pork plant as the coronavirus outbreak hit the meatpacking industry. Retail prices for some meat products are starting to rise, and analysts warn of possible grocery shortages.
Hog prices are falling sharply on excess supply.
Losing the largest pork plant cuts hog slaughter capacity and leaves more hogs unsold, which pressures hog prices lower. Lower packing throughput also weighs on cattle and chicken demand.
apnews.comRYAN J. FOLEYApr 23, 2020After 117 past bearish disease events, Lean Hogs moved a median -0.6% over 5 sessions (36% higher; middle half -2.2% to +1.6%), and +1.2% over 20.
Not 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.
