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Pork futures weakened as the cutout value fell and lean hog contracts slipped after a long rally. Wholesale beef prices declined several days running, while feeder cattle at auction rose $3 to $5 on lower grain prices.
Packers processed 665,000 head of cattle the prior week.
Lower grain futures are supporting feeder cattle and easing feed costs, while pork demand softening points to lower hog prices. Seasonal pressure on muscle cut prices typically builds into summer.
midwestfarmreport.comPam JahnkeJun 18, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
Falling cutout values and a slipping market after a long rally weakened sentiment ahead of the June 22 move.
