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Lean hog futures are trending sideways to lower, with the market watching Chinese demand ahead of Lunar New Year. Pork cutout fell 92 cents and packer margins slipped, while USDA's slaughter estimates appear to understate COVID-19 processing disruptions.
Weekly price ranges were given for hogs, soymeal and corn.
Routine price commentary with bearish hog sentiment but no new fundamental shock; soymeal and corn ranges are noted for feed buyers.
thepigsite.comMegan HowellNov 20, 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.
