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CME lean hog futures rose on Tuesday on stronger cash pork prices and a weaker dollar. Corn futures fell more than 5% after rain across the Midwest and Plains, and feeder cattle gained.
Lower corn values cut feed costs for hog and cattle feeders, which supports deferred livestock contracts. Firm pork cutout values also support hog prices.
grainews.caGFM Network NewsMay 25, 2021Not enough comparable past events yet for a historical read.
Not 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.
On May 25 corn fell over 5% after Midwest rain and feeder cattle gained, so lower feed costs raised the expected margin for feeder cattle buyers and supported the rally.
