Barrow and Gilt supplies 01/10/21

The December hog survey suggests barrow and gilt slaughter will decline modestly this quarter compared to a year ago. Slaughter is likely to overrun the year earlier level this spring as last year’s data was distorted by the Covid 19 problem.

On a longer historical prospective deliverable hogs are trading at the high side of the expected value given the expected supply of deliverable hogs for the winter spring market. But another surge in Chinese purchases of US pork could send June futures to $90 or higher.  

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