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Lean hog futures trended lower over the prior two weeks before a rebound on January 21, and the February contract traded at a premium to the CME lean hog index. China reported an African swine fever outbreak on a farm with 1,015 pigs in Guangdong province.
Expected cuts in Chinese pork imports as China rebuilds its herd could weigh on US export demand. A new ASF outbreak in China could support import demand later in the year, so the net effect on hog prices is mixed.
thepigsite.comMegan HowellJan 22, 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.
