Loading…
Heavy hog supplies relative to limited processing capacity are pressuring hog values, with the IA/MN lean carcass value about 21% below a year earlier. December hog futures have nonetheless rallied about 20% from mid-October lows, partly on short covering and optimism about pork demand.
Producers pulling supplies forward keeps cash hog prices under pressure near term, while the futures rally reflects expectations of a manageable early-December supply. Feed buyers should watch slaughter pace against the September Hogs and Pigs estimates.
thepigsite.comGlobal Ag MediaNov 23, 2016Not 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.
