Light Volume in Hogs
Boxed beef continued to drop on Thursday with Choice primal loin sections off $8.98. Primal chucks and round sections broke hard during May but have since bounced around current lows
Hog trade volume Thursday was very light. More than likely profit taking on July and August hogs had market move up during the day and spreaders anticipation fewer hogs December in 2021 with fewer sows bread.
After 27 straight days of the CME Pork Index falling a total of $52.05, the index was up 38 cents as of June 24th. When compared to beef, pork is cheap but U.S consumers have never used ground pork as they do ground beef or even ground poultry. Net sales at 24,100 metric tonnes is lower than it needs to be if pork is to move higher.
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