Analyst predicts $10 hogs later this year
Swine slaughterhouses are already running at capacity prompting analyst predictions that hog prices could plummet to $10 per hundredweight later this year, reminiscent of the liquidation of 1998.
Credit Suisse food stocks analyst Robert Moskow, said in a note to investors that more hogs will go to slaughter this autumn because the herd is too large, citing USDA’s June Hogs and Pigs report that showed a 5.8 percent increase in the herd. By comparison, market analysts had expected the report to show about a 4.6 percent increase.
Sow farrowings in the March-May period are up 2 percent over the same period last year, “which means the pig crop will be bigger, not smaller in the autumn” he stated.
Subscribe here to the free Pig Progress newsletter
Sow farrowings in the March-May period are up 2 percent over the same period last year, “which means the pig crop will be bigger, not smaller in the autumn” he stated.
Subscribe here to the free Pig Progress newsletter
Join 18,000+ subscribers
Subscribe to our newsletter to stay updated about all the need-to-know content in the pigsector, three times a week.
