date:May 23, 2012
$76 per live hundredweight in late February.
Market fundamentals certainly has something to do with the spring rally's absence, too. In the last 2 months, hog slaughter and pork production were both up about 5%. So, there's not a lot of potential demand growth in the near term, Hurt says.
Since the first of April, slaughter numbers have been up near 4% and pork production up near 5%. Clearly there were more hogs and higher weights than expected. While this is a bearish factor it is not larg