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June lean hog futures posted modest gains after the USDA's monthly Cold Storage report showed ending-March pork stocks at 533.9 million pounds, up about 12.7 million from February. The CME lean hog index rose 11 cents to $71.31 as of April 25, the first back-to-back daily gains in six weeks.
Pork stocks building above the typical March drawdown is bearish for hog prices, though the early gains hint at a possible bottom ahead of grilling season demand.
thepigsite.comSarah MikesellApr 28, 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.
