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CME June lean hog futures settled at 126.05 cents/lb after touching a contract high, supported by firm cash hog prices. The CME lean hog index rose to 102.25 cents/lb, its highest since August, while wholesale pork values fell.
Traders were positioning ahead of the USDA quarterly Hogs and Pigs report.
Tighter expected hog supplies and firm cash prices support lean hog futures, though falling pork cutout values signal limited wholesale strength. Higher hog prices raise the cost of hog finishing feed demand dynamics.
grainews.caJulie Ingwersen, GFM Network NewsMar 29, 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.
