Hogs push to new highs again, helped by weather. February 8, 2021
Deferred hog prices pushed to another new high today. The trade does not know what to plug in for hog slaughter numbers for spring or beyond given USDA's incorrect December HP report. That leaves everyone wondering about lower supply year/year ahead combined with an improved US consumer and better than previously thought Chinese export. This week's cold snap may also encourage producers to limit marketings.
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