Pork Prices Remain Firm on Lower Y/Y Slaughter, Tight Spot Supplies
Highlights- Tight hog supplies and shrinking margin forced packers to limit slaughter on Friday and Saturday. In the near term this will tend to keep pork prices elevated but eventually we think the seasonal increase in supply will catch up with the pork market.- Expectations are for processing items (hams, bellies, trim) to move lower into September as hog slaughter should be about 200k head/week higher than currently. Cooler temperatures should also result in higher hog weights.- Fresh pork prices are finding some near-term support given...
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