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October lean hog futures fell to a six-week low this week, and the CME lean hog index dropped $1.18 to $118.00. Pork cutout fell to a three-month low at $102.99, driven partly by a drop of over $6 in pork bellies.
A group of Senate Democrats also urged USDA to step back from plans to promote methane digesters on livestock farms.
Technical selling and seasonal weakness in pork cutout values point to further downside in hog futures, which lowers the cost of hog-based feed demand signals for buyers.
thepigsite.comSarah MikesellAug 25, 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.
