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CME lean hog futures gained for a second day as supplies of market-ready hogs remained low ahead of the August contract's expiry. The October contract rose 2.05% to 91.375 cents per pound, its biggest gain since July 13.
Cattle futures also edged higher on firm boxed beef demand.
Tight near-term supplies of market-ready hogs support prices until seasonal fall supply arrives. Strong beef demand also supports the broader meat complex.
financialpost.comReutersAug 3, 2021Not 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.
