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June lean hog futures hit a fresh contract low during the week, with the CME lean hog index down 7 cents to $71.57 as of April 18. USDA weekly data showed net pork export sales of 36,100 MT for 2023, up 33% from the prior week, led by Mexico and Japan.
Solid export sales offer some support, but the contract low and downtrend point to continued weak hog prices until seasonal demand builds.
thepigsite.comSarah MikesellApr 21, 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.
