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CME lean hog futures ended lower in the nearby contract on March 4 after a strong rally, while deferred contracts edged higher. Packer slaughter rose to an estimated 493,000 hogs, and China issued new rules to control pig production capacity after oversupply.
Mixed futures moves and rising slaughter point to balanced near-term hog supply, while China's herd controls could eventually tighten global pork supply and support prices.
marketscreener.comReutersMar 4, 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.
