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Lean hog futures traded in an uptrend, with April hogs at a $6.46 premium to the CME lean hog index, implying expectations of rising cash prices. Pork cutout rose $3.03 to $111.22.
USDA reported net weekly pork sales of 42,200 MT for 2022, up 59% week-on-week, led by Mexico, China and Japan.
Firm export sales and seasonal grilling demand support pork prices and hog futures. Strong export demand from Mexico and China tightens available US pork supply.
thepigsite.comSarah MikesellMar 4, 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.
