Forward hog contract prices have been volatile as of late.

Tyler Fulton is the Director of Risk Management with Hams Marketing Services.

"Forward contract prices have seen a pretty volatile month to date," he said. "We're looking at some general declines from where we put in about two weeks ago and that's coming from cash influence. There's still just a ton of uncertainty, especially now with an obvious second wave of COVID-19 moving across North America."

Fulton commented on U.S. cash prices.

"Defined really by huge uncertainty. On one hand, about two weeks ago, three weeks ago, we saw ham and pork belly prices bring the cutout value up to the highest levels that we'd seen in several months but the belly prices have effectively collapsed."

He notes that the discovery of African Swine Fever in Germany is continuing to impact imports into China.