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US lean hog futures jumped on African swine fever fears in Asia and tight domestic supply as the US rebuilds its herd. The Philippines reduced pork tariffs and aims to import 400,000 tonnes in 2021, and CME June hogs settled at 107.9 cents per pound.
Philippine import demand and ASF-driven shortages in Asia support US pork export demand and lift hog prices. Tight herd rebuilding limits near-term supply, which keeps feed demand firm.
financialpost.comReutersApr 7, 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.
After 78 past bullish trade events, Live Cattle moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +1.2%), and +0.5% 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.
