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Analyst Dennis Smith projects the summer hog market high will occur around mid-July, with the lean hog index at a record high of $90.17 on June 23. Pork cutout values reached $101.15, the highest since October 2014, despite record large production.
A cash index above futures implies convergence pressure, so either cash prices fall or futures rise, while strong cutouts support hog margins and feed demand.
nationalhogfarmer.comDennis SmithJun 26, 2017Not 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.
