Loading…
December lean hog futures remain in a steep uptrend on the daily chart, with futures' discount to the CME cash index shrinking since late September. Weekly USDA export sales showed net pork sales of 20,300 MT, mainly to Mexico and China.
USDA raised its 2022 and 2023 food price inflation forecasts.
Strong export sales and a tight holiday ham supply support hog prices into mid-December, while lower-than-normal hog weights signal limited near-term pork supply.
thepigsite.comSarah MikesellOct 28, 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.
