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Feedstuffs reports that US cash hog prices rose from $51.98/cwt on March 1 to $68.49 on March 27, and May lean hog futures climbed from $65.925 to $86.675 over the same period. Analyst Adam Speck attributes the rally partly to a new Prestage Foods pork plant ramping up and seasonal demand, not just African swine fever.
A sharp, arguably overbought rally in hog prices lifts the value of hogs and raises hog-feeding costs relative to returns, while Speck signals the levels are unsustainable near term.
feedstuffs.comKrissa WelshansMar 28, 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.
