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Lean hog futures rallied sharply as open interest surged after weekly pork export data showed large purchases by Mexico and China. Analysts questioned whether the data was accurate or reflected catch-up reporting from previous weeks.
Export-driven demand and uncertainty over the data are pushing hog futures higher, with bearish producers facing losses on hedges and possible volatility ahead.
archerfinancials.comDennis Smith16 feb 2024Tras 85 eventos alcista de comercio pasados, Cerdo magro se movió una mediana de +0,8 % en 5 sesiones (54% al alza; mitad central entre -1,8 % y +4,5 %), y +4,0 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
Open interest surged on the hog rally on the export data, signaling new buying; analyst doubts about the data add some uncertainty.
