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August lean hogs fell $2.575 to $98.35 on May 29, near a six-month low, and were down $1.725 for the week. The selloff was tied to a drop in WTI crude futures.
Technical indicators point to continued selling.
Weaker crude and technical selling push hog futures lower, which reduces the value of hog-related feed demand.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.