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CME lean hog futures closed mixed on Sept. 29 after a surge tied to the bullish USDA hogs report.
USDA also pledged up to $500 million to prevent African swine fever spreading after outbreaks in Haiti and the Dominican Republic.
A US African swine fever outbreak would cut pork exports and pig prices, while the current hog rally reflects tighter supply, so the disease risk adds volatility to hog and feed demand.
financialpost.comReutersSep 29, 2021After 177 past bullish disease events, Lean Hogs moved a median +0.2% over 5 sessions (52% higher; middle half -1.8% to +2.7%), and +0.9% over 20.
After 145 past neutral disease events, Corn moved a median +0.4% over 5 sessions (58% higher; middle half -1.2% to +1.7%), and +0.0% over 20.
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.
