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Lean hog futures extended their rally this week, with April futures hitting the daily limit and June pork cutout futures above $100. USDA reported January-end pork inventories of 459.95 million lbs, up 44 million lbs in January but short of the five-year average gain.
Tight cold storage stocks and strong pork demand expectations support hog prices, while reopening-driven demand adds upside; feed buyers should expect firmer hog-related feed demand sentiment.
thepigsite.comMegan HowellFeb 26, 2021Not 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.
