Hog Futures Pause on Supply Outlook

Hog futures have climbed a wall since finding a low the last week of August.  Pork prices pulled back today the most since then on the view of increased domestic pork supply.

Yesterday, spot hogs were set back almost one-half percent while wholesale pork prices have retreated 13% since the end of June – their biggest quarterly setback in a year (according to the USDA).  What’s more is pork production is expected to increase 13% (from the previous quarter) by the end of the year.
Barb Levy, chief director for The Fox Group’s futures division in Chicago, had this to say regarding the current hog futures situation,Hogs futures rose late last week over concern for lower hog weights in the face of the heat wave.”  Levy added,However, the corn supply for feed appears to be very large, eliminating any concerns over weights, and resulting in today’s decline in the hog futures market.”

Hog futures have managed to break out of their consolidation to the upside.  Let’s let hog futures provide some type of pull-back before initiating any long position.


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