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CME lean hog futures fell to their lowest since February on May 23, with June contracts closing at 94.525 cents per pound. Pork cutout dropped $1.38 to $98.69 per cwt, with bellies down $5.01 and hams down $1.90.
Weaker sales to Mexico were cited as a drag.
Softer pork cutout and soft export demand from Mexico weigh on hog futures, pressuring producer margins and reducing feed demand for hogs.
agcanada.comAGCanadaMay 23, 2024Not enough comparable past events yet for a historical read.
Not 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.
