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October lean hog futures rose $1.15 to $75.925 on July 31, 2024, while August futures gained to $92.275. The CME lean hog index climbed to a fresh seasonal high of $92.59 as of July 29, with a preliminary figure pointing to $93.08.
Firm cash hog prices support futures, but wholesale pork weakness after Monday's peak suggests the cash rally may be nearing a top, which could cap further gains in deferred contracts.
profarmer.comPro Farmer EditorsJul 31, 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.
