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Lean hog futures traded choppy and sideways as sliding US wholesale pork prices limited buying. The pork cutout fell to its lowest daily price since June 23, and weekly hog slaughter was down about 3% from the prior week and year.
A USDA Cold Storage report was mildly supportive.
Weak wholesale pork and uncertain fall retail demand cap near-term hog prices, while cattle strength offers some support. Traders expect rising fall supplies to keep prices range-bound.
thepigsite.comMegan HowellAug 27, 2021Not 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.
