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CME February lean hog futures fell more than 4% on November 28, settling at 84.750 cents per pound, the lowest since October 17. Traders cited worries about Chinese demand for U.S. pork amid COVID-19 curbs in China and expected seasonal ham price declines.
Weaker Chinese demand expectations and seasonal softness in wholesale ham prices point to lower hog futures and feed-buyer hog margin pressure in the near term.
agriculture.comReutersNov 28, 2022Not 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.
