Hog Slaughter Forecast Steady into April

Hog Slaughter Forecast Steady into April

Trading was quiet in the animal protein market today, but downward price pressure should be expected after soybean meal fell below $400 today for the May contract. Hog slaughter finished last week at an estimated 2.58 million head, down 3.8 percent from a year prior levels. The harvest is forecast to trend lower over the next six weeks, averaging 2.54 million head versus 2.59 million head over the prior six weeks. Slaughter is forecast well over 2020 levels, which were dramatically impacted by COVID related packing house closures. Slaughter is forecat 5 percent over the same time…

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