Demand Slips, Hog Futures Stall

Hog futures have stalled after yesterdays boost higher on the outlook of domestic US pork supply “outpacing” demand.  Hog futures are trading nearly unchanged from yesterday’s close.

The USDA has recently commented on pork prices, stating meatpackers have processed 17% more hogs than this time last year, and their estimate of domestic pork output has risen by 2.2%.  Although hog futures were up decisively yesterday, wholesale pork prices actually fell the most in over a week on the news.

The technical trend for hog futures remains up, but are at a crossroads – my reason for offsetting our long hog futures position today.  I will only look for low-risk positions in lean hog futures until a clearer picture presents itself.

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