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August lean hog futures fell $2.775 to $107.50 on June 30 and settled near session lows. Cash fundamentals weakened after the Hogs & Pigs report, with the CME lean hog index turning lower and pork cutout falling.
Weaker cash hog and pork cutout values pull futures lower, and futures trading below the index signals expected further cash softness, a bearish signal for hog-based feed demand.
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.