CME: Lean hog futures weaken
September 12, 2022
Chicago Mercantile Exchange lean hog futures eased on Monday as the U.S. Agriculture Department lifted its forecast for domestic pork production and lowered its price outlook for pigs for this year
by Tom Polansek – Reuters
The department, in a monthly report, raised its estimate for pork production in the third quarter by 0.9% from August because the pace of slaughtering has exceeded expectations. The agency lowered its 2022 hog price forecast 3.4% from last month to $71.30 per hundredweight based on observed prices.
“Beef production is also projected to exceed previous expectations in 2022 and 2023 due to higher slaughtering”
Posted in Industry
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