Lackluster trade was indicated at the start of the week with most participants testing the market.

For the week ending July 15th, 2023, hog slaughter is forecast at 2.325 million head, a 3.1 percent increase from 2022 but an 18.9 percent drop on the week with lower slaughter levels expected for the summer season and the Fourth of July holiday last week. According to the USDA Actual Slaughter Under Federal Inspection for June 24th, average live weights were at 283 pounds. Over the next six weeks, hog slaughter is projected to average 2.325 million head per week, less than half a percent above 2022 but one percent below 2021 levels for the respective time.

Based on the Estimated Weekly Meat Production from the USDA, hog slaughter for the week ending June 8th was at 1.954 million head, down 0.9 percent or 18,000 head, from the respective week in 2022. Year-to-date hog slaughter is currently at 65.083 million head, 1.1 percent above 2022 for the same time.

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