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CME lean hog futures for August delivery slipped on July 2 as traders priced in weaker Chinese demand. China, the world's largest pork consumer, is rebuilding its hog herd after African swine fever, and falling import demand and hog prices there suggest that recovery is progressing.
Lower Chinese import demand reduces the outlook for US pork exports, which weighs on US hog prices.
reuters.comTom PolansekJul 2, 2021After 123 past bearish trade events, Lean Hogs moved a median -0.4% over 5 sessions (43% higher; middle half -2.9% to +2.0%), and -0.2% 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.
