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CME April lean hogs settled 1.700 cents higher at 100.075 cents per pound, near the day's high, as tight hog supplies and strong demand fueled gains for the fifth time in six sessions. Reduced slaughter after a Midwest winter storm and packing staffing problems from COVID infections supported pork prices.
Tight hog numbers and solid domestic and export demand point to firm lean hog prices into summer, which raises feed buyers' cost of hog-related demand for feed grains and meal.
financialpost.comReutersFeb 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.
