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CME lean hog futures fell to their lowest in nearly four weeks as large supplies weighed on the market, with December hogs dropping below 70 cents/lb. USDA data showed about 486,000 hogs slaughtered and the pork cutout down 88 cents to $85.21/cwt.
Heavy slaughter and weaker pork values signal soft hog demand for the near term, which typically reduces hog prices and dampens feed demand from hog producers.
agcanada.comAGCanadaNov 22, 2023Not 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.
