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Lean hog futures rallied during the week of November 18 despite weakening cash hog fundamentals. The CME lean hog index fell to $88.22, its lowest since February 9, and the pork cutout dropped to $93.63.
Weekly USDA export sales were also reported.
Seasonal cash weakness is expected, but tighter slaughter and pork output may bring earlier seasonal lows, supporting hog futures in the near term.
thepigsite.comSarah MikesellNov 18, 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.
