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Lean hog futures fell to their lowest levels of the year, and a technical analyst says the decline is overdone and a bottom is near. The pork cutout firmed $1.76 to $100.77 as packers raised bids.
Weekly US pork export sales were reported at 34,300 MT, mainly to Mexico.
Price commentary on oversold conditions and firmer cutout values suggests possible stabilization, but the outlook depends on whether retail demand holds up.
thepigsite.comSarah MikesellSep 29, 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.
