Loading…
CME lean hog futures fell to a six-week low on August 14 on technical selling and ample US supplies. Most-active October hogs lost 2.175 cents to 79.150 cents per pound.
Pork processors slaughtered more hogs than a week earlier and a year earlier.
Ample hog supplies and higher slaughter reduce hog price support, which can weigh on demand for hog feed. Cattle supplies were also described as tight, with packers losing money per head.
thebeefsite.comMelanie EppAug 15, 2023Not 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.
Directly describes the Aug 14 drop in CME lean hog futures to a six-week low (October down 2.175 cents) on technical selling and ample US supplies with higher slaughter, which is the move in question.
CME lean hog futures fell to a six-week low on Aug 14 on technical selling and ample US supplies, with October hogs down 2.175 cents, directly describing the drop in the window.
