Loading…

October lean hog futures rose 90 cents to $94.325 on Wednesday, reaching a two-month high on technical buying from chart-based speculators. The CME lean hog index fell 41 cents to $106.86 as of Aug.
25, and cash fundamentals weakened slightly.
Futures strength driven by technical buying and record cattle prices contrasts with softer cash hog values, suggesting the rally may lack fundamental support. Feed buyers should expect volatility in hog-linked demand for feed.
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.