# CME lean hog futures rally on bargain buying; cattle firm

> 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.

- Date: 2022-11-08 · published 2022-11-08T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/38832-cme-lean-hog-futures-rally-on-bargain-buying-cattle-firm
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

Futures trading below cash hog values prompted a technical rebound, but the rally reflects market positioning rather than a new supply or demand shift.

## Read by commodity

- HOGS: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/article/usa-livestock/livestock-cme-lean-hog-futures-rally-on-bargain-buying-cattle-firm-idUSL1N32402O/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.