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CME benchmark February lean hog futures settled 0.950 cents lower at 66.925 cents per pound on 3 December. Traders cited demand uncertainty as retailers had already stocked up on meat before the holidays, and weekly US pork export sales were mixed.
Front-loaded retail stocking and softer export demand reduce near-term pork buying, which can pressure hog futures and feed demand for corn and soymeal.
thepigsite.comMegan HowellDec 4, 2020Not 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.
