The National Pork Producers Council says the industry's priorities remain unchanged after Democrats gained control of both the House and Senate, with a focus on educating new lawmakers on agriculture. December lean hog futures have hit six-year lows and negotiated cash prices have fallen near $50 per hundredweight.
Weekly slaughter rose about 10% in Q3 while carcass weights rose about 3%, but year-over-year demand has not kept pace, pointing to weak domestic and export pork demand that is pressuring hog prices lower. Lower hog prices reduce the value of pork byproducts used in feed formulations.
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.