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Lean hog futures were in a steep downdraft as falling pork cutout values and lower cash hog prices weighed on the market. Weak fall demand for most pork cuts, aside from hams, and a breakdown in wholesale beef prices added pressure, while China's live hog prices rose on government stockpiling and falling sow inventories.
Weaker U.S. hog and pork prices reduce feed demand from producers, while China's sow herd decline and stockpiling could support future import demand for pork.
thepigsite.comMegan HowellOct 15, 2021Not enough comparable past events yet for a historical read.
Not 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.
Describes a steep futures downdraft driven by falling pork cutout and cash hog prices and weak fall demand, directly matching the 5-day drop.
Describes a steep lean hog futures downdraft driven by falling pork cutout and cash hog prices and weak fall demand, directly matching the move (dated Oct 15, so it likely reports the selloff that was already under way).
