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CME December lean hog futures climbed to a near three-week high of 82.25 cents per lb on Friday on strong demand and wider packer margins. Weekly pork export sales of 29,900 tonnes were reported for the week ended Oct.
6. Cattle futures ended mostly lower on technical selling and concerns that inflation could hurt demand for higher-end beef.
Firm pork export demand and better packer margins support hog prices, which helps feeders weigh hog-based feed purchases. Softer cattle prices reduce the value of feeder cattle outlooks.
financialpost.comReutersOct 14, 2022Not enough comparable past events yet for a historical read.
Not 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.
