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CME August lean hog futures settled down 1.9 cents at 104.875 cents per pound on June 27 as traders cited weak consumer demand and a seasonal slowdown in meat buying. August live cattle settled slightly higher at 133.475 cents after a dip to the contract's lowest since June 1.
Wholesale pork carcass prices fell $3.17 to $109.03 per cwt.
Weaker pork demand ahead of the July 4 and Labor Day seasons pressures hog prices, while cattle held steady. Consumer budget strain from high gasoline prices adds downside risk to meat demand.
swineweb.comJim EadieJun 28, 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.
