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June lean hog futures set new contract lows during the week, with prices trending lower on the daily chart. The CME lean hog index rose to $80.09, while futures fell below cash, which is unusual for this time of year.
Futures trading below cash signals bearish expectations for consumer pork demand. Hog prices are likely to stay under pressure until a clear market bottom forms.
thepigsite.comJim Wyckoff More from this authorMay 26, 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.
