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CME lean hog futures climbed on Wednesday as traders weighed pork demand and seasonal supply. The most-active October contract gained 2.875 cents to 83.600 cents per pound, and the cutout eased to $92.59/cwt.
Live cattle slipped on tight supplies and the upcoming Labor Day slaughter slowdown.
Expected fourth-quarter hog supply may weigh on prices later, while tight cattle supplies keep beef values supported. The day's gains were a routine technical move.
swineweb.comJim EadieAug 31, 2023Not enough comparable past events yet for a historical read.
Not 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.
