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Hog futures have slid back as African swine fever premiums faded, with August futures settling at 81.7 cents per pound on June 25, 1% below the start of the year. Mexico's pork purchases fell 18% in January-April, and US slaughter and hog barn capacity is expanding.
Ample US hog supply and weaker Mexican demand outweigh the ASF-driven export demand from China, pressuring hog prices. Persistent Midwest flooding also raises feed costs, a further headwind for hog producers.
aginfo.netJun 26, 2019Not enough comparable past events yet for a historical read.
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.
