Market Briefs 5/10/2023
Hog farmers faced a sudden market downturn in the last week of April, with lean hog futures dropping to $77.80 per hundredweight for May and $89.37 for June. This decline follows triple-digit prices earlier in the year, while feed and other costs remain elevated.
Farm Week reported last week that factors contributing to the drop include reduced domestic pork demand. In particular, bellies and hams aren’t moving as quickly.
The pork cutout value plunged from $90 per...
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