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August lean hog futures hit a four-month high in late July as the CME lean hog index rose. USDA cold storage data showed June pork stocks fell sharply, and China's June pork imports were up year over year.
Strong consumer demand and low pork stocks support hog prices, and the rally also lifts the cost of feed-linked meal markets in the outlook.
thepigsite.comJim Wyckoff More from this authorJul 28, 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.
