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Lean hog futures extended their bull run as USDA export sales confirmed strong worldwide demand for US pork. Record 2020 pork exports were led by China, and reports of disease in China's hog herd added to buying interest.
The pork cutout rose $3.25 to $87.49.
Strong export demand and disease-driven Chinese import needs tighten US pork supplies and support hog prices. Buyers of hog-related feed should expect firm demand for feed grains and meals tied to hog production.
thepigsite.comSarah MikesellFeb 12, 2021After 85 past bullish trade events, Lean Hogs moved a median +0.8% over 5 sessions (54% higher; middle half -1.8% to +4.5%), and +4.0% 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.
