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A research note says the hog spot price has stabilized after a sharp fall and a short-term rebound has started. It argues that supply pressure persists, with planned slaughter in November up about 6% month on month and slaughter weights near historic highs, and that the peak in theoretical slaughter could come in December.
Persistent hog oversupply and heavy slaughter weights argue for limited upside in hog futures, and lower hog prices reduce demand for feed ingredients.
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.