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December lean hog futures hit a 15-month high as cash hog and pork product markets strengthened. The CME lean hog index rose to $84.66 as of October 22.
US hog numbers continue to fall short of USDA forecasts for a 3.5% to 5% supply rise over September-November.
Persistent shortfalls in hog supply relative to USDA forecasts underpin hog prices and support demand for feed, though the rally may be nearing a top.
thepigsite.comZachary MintusOct 26, 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.
