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CME lean hog futures fell on Wednesday as cash hogs traded at a steep discount to futures and the pork cutout declined. The CME lean hog index rose to $77.17/cwt but remained nearly $8 below futures.
Live cattle futures closed mixed.
A cash discount and a weak cutout limit upside for hog futures until cash and pork prices recover. Cattle markets showed little net direction.
agcanada.comAGCanadaMay 18, 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.
