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The CME lean hog index rose 77 cents in the latest session, its biggest daily gain in the rally from the January low. USDA's annual Ag Outlook projected 2023 US pork production at 27.4 billion lbs, up 2%.
Analysts expect the cash and wholesale pork markets to keep rising.
A rebound in hog prices and steady production growth support higher hog-related feed demand in spring and summer, though futures already carry sizeable premiums.
thepigsite.comFeb 24, 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.
