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A U.S. 53-54% lean hog price fell from 84 cents/lb a month earlier to 67 cents/lb in the week before Sept. 12, a drop of about 17 cents.
The commentary expects prices to fall further toward the low 50s as more hogs reach market, while new plants in Coldwater and Sioux City add slaughter capacity.
Rising hog supply and expected further price declines point to weaker feed demand from producers, while cheap U.S. corn supports low feed costs. Packer margins remain strong, which may encourage aggressive hog buying.
thepigsite.comGlobal Ag MediaSep 11, 2017Not 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.
