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CME December lean hogs fell 0.600 cents to 79.500 cents per pound on Friday, Nov 15 trading, as technical selling and lower pork cutout values pressured the market. Speculative funds holding large long positions added to the selling.
The CME lean hog index was $89.78 for the two days ending Nov. 13, slightly below the prior period.
Softer cutout values and fund liquidation weigh on hog futures and the cash index, which lowers the feed-to-hog margin outlook for buyers. The move looks like profit-taking rather than a change in supply fundamentals.
swineweb.comJim EadieNov 18, 2024Not 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.
