
February lean hog futures rose $2.375 to $81.375 on Wednesday, a two-week high, on short covering and bargain buying, though cash hog prices kept declining. South Korea raised its African Swine Fever alert to serious after an outbreak on a farm in Danjin, with 1,423 pigs culled and about 140 related farms under watch.
ASF in a major Asian pork producer can trim import demand and push more pork supply onto markets, supporting weakness in US hog and feed-linked prices. The futures rebound is short-term and tied to cash prices stabilizing.
After 69 past neutral disease events, Lean Hogs moved a median -0.2% over 5 sessions (48% higher; middle half -1.4% to +1.5%), and -1.6% over 20.
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.