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Weekly Pork Commentary
Historic levels were ascertained for the pork carcass cutout each day early week before the apex was reached on Wednesday. After the high was attained, the downward slide began and continued through the week’s end. Trading levels for retail cuts remained lofty early week, but reversed direction Thursday as buyers sat on the sidelines and supplies grew. In other words, the wheels on the bus began to fall off. Sellers came into the week with reduced offerings because of good sold position which kept most processing cuts tight as harvest numbers began to increase seasonally. Limited bone-in ham availability allowed sellers to continue to drive prices higher. However by mid-week, the market appeared to run out of steam. Belly supply continued to be tight as the time for BLTs peaked. Additionally, consistent bacon demand from the restaurant industry kept slicers scurrying for bellies. Lean trim prices moved higher as sausage makers searched for trimming materials to fill their final orders heading into |