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US hog prices reached their highest since 2014 as the Philippines ended a pork price ceiling and announced reduced import tariffs. Lean hog futures rose as much as 2.3% to 108 cents per pound, with year-to-date gains above 50%.
Lower Philippine tariffs expand access for US pork exports, adding demand to a tight US supply. This supports hog prices and strengthens the case for higher hog-side input costs.
airfreight.newsBloombergApr 8, 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.
