July 7, 2008

 

US hog prices may plunge to US$10
   
  

With slaughterhouses already running at full capacity, Credit Suisse food stocks analyst Robert Moskow is projecting that hog prices could plunge to US$10 per cwt later this year.

 

In a note to investors, Moskow said more hogs will be slaughtered this autumn as the herd is too large, citing USDA's June Hogs and Pigs report that revealed a 5.8 percent increase in herd size.

 

Sow farrowings in the March-May period also grew 2 percent on-year, pointing to a bigger pig crop, Moskow said.

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