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CME August lean hog futures fell 3.2% to 79.9 cents a pound on July 14, 2017, the lowest close in about two weeks, after a multiyear high earlier in July. Wholesale pork prices had dipped Thursday before partly recovering Friday, while cattle futures rose on a higher-than-expected cash cattle trade.
Traders took profits after a strong run in hogs, with analysts seeing the seasonal peak in pork prices as likely near. Lower hog futures reduce expected returns for producers, while firmer cattle and cheaper grain support feedlot economics.
foxbusiness.comBenjamin ParkinJul 14, 2017Not 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.
