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December lean hog futures hit a new contract low during the week of October 27, and the CME lean hog index fell 26 cents to $78.41 as of October 24. Weekly USDA export sales showed pork net sales of 28,200 MT, led by Mexico.
Technical downtrend and seasonal weakness point to sideways-to-lower hog prices near term, with bulls needing closes above $71 to signal a bottom.
thepigsite.comSarah MikesellOct 27, 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.
