Hog futures remain particularly volatile on weak cash hog and pork cutout value. Belly prices down sharply as retail prices catch up with record wholesale values in July.
Hog futures started last week on a very firm footing as market expectations were buoyed by reports of lower than expected pork production and very good pork export sales. By Wednesday however, prices took a turn lower as pork belly prices broke sharply lower. Lower prices for other products, particularly trimmings also have a negative impact on the value of the cutout.