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A columnist says cash hog prices remain well below breakeven as the February contract expires. Packers have the upper hand and are pressuring the cash market amid a backlog of animals with limited Saturday slaughter.
He expects a seasonal harvest decline to offer temporary relief before oversupply returns later in 2020.
Packer leverage and a slaughter backlog keep cash hog prices depressed, with only a temporary seasonal lift expected before oversupply pressure returns.
nationalhogfarmer.comJoseph KernsFeb 15, 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.
