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Lean hog futures fell steeply and hit a four-week low, suggesting a near-term market top. USDA reported US beef net sales of 14,000 MT for 2022, down 39% from the prior week.
Reduced export buying and weaker pork demand limit hog price upside during the coming weeks, while seasonal grilling demand and smaller spring supplies may provide a floor.
thepigsite.comJim Wyckoff More from this authorApr 8, 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.
