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US lean hog futures remained bullish late in the week, with December contracts trading well below the CME Lean Hog index of $93.20. Weekly USDA pork export sales were led by Mexico, Japan and Australia, and China's state planner is pushing large hog producers to release supplies to cool prices.
Steady export demand and hopes for stronger Chinese buying support US hog prices, while the seasonal low in cash hogs may already be in place.
thepigsite.comJim Wyckoff More from this authorOct 21, 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.
