Key Takeaways:
U.S. hog and pork prices have declined sharply, with December lean hog futures ending October at $58.875/cwt and the pork cutout reaching its lowest level since January 2021. Seasonal increases in hog slaughter and pork production have contributed to price weakness, although the severity of the downturn suggests that seasonal factors alone do not fully explain the decline. Weak domestic demand remains a major concern, as pork has struggled to benefit from historically elevated beef prices while chicken consumption continues to expand. Retail pork prices have remained relatively stable despite substantial declines in wholesale values, potentially limiting additional consumer buying interest. U.S. pork exports declined 4.9 per...
What You Need to Know Today: Cattle futures extended their sharp selloff Friday as weakening cash cattle prices, deteriorating feedlot profitability, and reduced packer demand continued to weigh on the market. The inability of futures to sustain a rally following last week's bullish Cattle on...
As predicted, the Federal Reserve held rates steady at the last meeting before the midterm elections, likely in part because of the election (see WPI 19 October and 22 September). The decision comes at the tail end of a midterm election cycle that has been marked by the two parties campaigning...
