Loading…
US lean hog futures remained in a downtrend while the CME lean hog index rose 7 cents to $89.92 as of June 25 and pork cutout firmed to $95.52. Analysts expected USDA's Hogs & Pigs report to show a slightly larger US herd, and Denmark is set to introduce a livestock carbon tax.
Seasonal cash weakness and a possibly bigger herd point to continued pressure on hog prices, though firmer cutout values hint at a possible bottom. The Danish carbon tax affects EU livestock costs more than US prices.
thepigsite.comSarah MikesellJun 30, 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.
