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CME lean hog futures closed lower on March 29 as traders took profits after contract highs set the previous Friday. April hogs settled at 100.375 cents per pound and June at 105.225 cents.
Commodity funds hold a large net long position.
Profit-taking after record highs reflects a large speculative long, which can bring short-term volatility, though firm cash hog prices and tight supplies keep a floor under the market.
thepigsite.comMegan HowellMar 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.
