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US lean hog futures rallied strongly as packers bought aggressively and cash bids rose above $113/cwt. China also reported a new African swine fever outbreak, and market weights have been falling for two weeks.
Tightening hog supplies and renewed ASF concerns in China support demand for US pork and the price outlook for hogs. Higher hog prices raise the cost of production for hog finishers.
thepigsite.comMegan HowellApr 30, 2021Not 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.
