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CME lean hog futures jumped nearly 5% on November 7 on bargain buying after the December contract hit a near three-week low. The December contract settled at 87.050 cents per pound, and traders said hogs had become too cheap relative to cash prices.
Futures trading below cash hog values prompted a technical rebound, but the rally reflects market positioning rather than a new supply or demand shift.
reuters.comJulie IngwersenNov 8, 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.
