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US Cash Hogs: Steady To Lower On Supply Pressure
US - The Midwest direct hog markets are reported steady to lower Monday on supply pressure following last week's record-large slaughter and pork production, writes Curt Thacker of Dow Jones Newswires.Some plants in the western corn belt are buying additional hogs to fill their early-week slaughter schedules but are said to be getting the animals they need at generally steady prices.
In the eastern corn belt, most plants are full through midweek, and some are nearly booked for the week.
Market analysts and dealers said rainfall across much of the western corn belt appears to be generating a bigger run there than some had expected. Farmer/producers are taking a break from crop harvesting, and some are shipping hogs instead.
The predictions for prices Tuesday are mostly steady but some livestock buyers in the eastern corn belt see possible weakness on follow-through selling, lower futures prices and expectations for another large slaughter this week.
Source: American Agriculturalist
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