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CME October lean hog futures fell 4.75 cents to 93.3 cents/lb on Thursday as wholesale pork softened and export sales weakened. USDA reported US pork exports of 13,500 tonnes in the week ended Aug.
11, down 43% from the prior four-week average, with almost no sales to China. October live cattle also eased on weaker cash prices in the southern Plains.
Weak export demand and rising hog supply pressure pork values and lean hog futures lower, while softer cash cattle prices weigh on live cattle futures for feed buyers.
grainews.caChristopher Walljasper, GFM Network NewsAug 18, 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.
CME October lean hogs fell 4.75 cents on Aug 18 as wholesale pork softened and weekly export sales dropped 43% versus the four-week average with almost no China buying, a direct demand/trade-flow driver within the move window.
