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US lean hog futures rose on January 12 as cash hog prices and packer margins improved. Corn futures surged more than 5% after the USDA cut its 2020 harvest estimate, with prices reaching 6.5-year highs.
Corn at multi-year highs raises feed costs and is expected to limit any hog herd recovery, supporting hog prices. The corn move reflects USDA's crop cut, which tightens feed supply.
thepigsite.comMegan HowellJan 13, 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.
