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December lean hog futures have fallen from the October contract high and entered a technical downtrend. The CME lean hog index fell another 26 cents to $87.83 as of Nov.
19, its eighth decline in nine days. Chinese pork imports fell 10% in October, and US pork export sales were mixed.
Futures trading below the cash index suggests traders expect further declines in cash hog prices. Weaker Chinese import demand adds to the bearish case for US pork demand heading into winter.
thepigsite.comZachary MintusNov 22, 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.
