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CME April lean hogs finished down 4.3 cents at 79.450 cents per pound, the lowest since October 2021, and the nearby contract fell 9% from Friday's close. June hogs hit the daily limit lower to their lowest since January 2022.
Concerns about reduced US ham demand from Mexico and a strong dollar weighed on the market.
Weaker hog prices reduce producer margins and signal lower demand for pork, which can trim the outlook for hog-related feed demand such as meal and DDGS. A strong dollar also cuts export competitiveness.
reuters.comTom PolansekMar 16, 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.
