The jump in pork values inside China is a positive development, said The Hightower Report. If tariffs on U.S. pork were to come down, China buyers make turn active, Hightower said.
USDA pegged hog slaughter numbers at 444,000 head as Smithfield's Tar Heel plant intentionally did not run today. The firm plans to make up the numbers this Saturday, Allendale said.
April hogs traded down to the lowest price level since July 11, before closing higher. Sustained high pork production continues to drag the market lower, The Hightower Report said.