Lean hog futures broke sharply lower this week as market participants reacted forcefully to some truly shocking developments in both pork and hog cash markets, Len Steiner said in the “Daily Livestock Report.”
“On the pork side, the most surprising number was the sharp drop in the value of bellies at a time of year when pork belly prices actually are supposed to move higher,” he said.
The U.S. Department of Agriculture quoted the pork belly primal yesterday afternoon at $116
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