Smithfield Foods said high fuel costs, which have surged since the start of the war in Iran, weighed on its quarterly pork sales. The company cited persistent inflation and high gas prices pressuring US consumers.
Weaker US consumer demand for pork, driven by costly gasoline curbing road-trip purchases, points to softer hog prices and lower demand for feed grains used in pork production.
After 477 past bearish events of any kind, Lean Hogs moved a median -0.4% over 5 sessions (42% higher; middle half -2.5% to +1.6%), and +0.3% over 20.
After 626 past bullish geopolitics events, Crude Oil (WTI) moved a median +2.1% over 5 sessions (62% higher; middle half -2.3% to +8.5%), and +1.6% over 20.
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.