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February lean hog futures hit a six-week high and broke out of a trading range, which the analyst reads as a technical sign of a market bottom. Wholesale pork rose to its highest level since late November, and the CME lean hog index rose 9 cents to $65.83 as of Jan.
8. China also released 30,000 MT of frozen pork from state reserves, and the Philippines extended reduced pork tariffs.
Higher wholesale pork and hog futures suggest firming hog prices, while the Philippine tariff extension supports US pork export demand. Feed buyers may see hog-linked feed demand stabilize.
thepigsite.comSarah MikesellJan 12, 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.
