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Lean hog futures have recovered from their June low but face chart resistance just above current prices. US pork packers have been operating in the red, with HedgersEdge estimating negative margins near $30 per head.
The CME lean hog index rose to $110.45 as of June 20, its highest level since August.
Negative packer margins could slow the recent cash hog rally once slaughter supplies build in the second half of the year. Firm cash fundamentals still support futures, so the net price direction is mixed but leaning up.
thepigsite.comSarah MikesellJun 24, 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.
