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Lean hog futures rebounded during the week after dropping to a six-week low, as US slaughter was down 2% year on year. Frozen pork stocks were 26.8% below year-ago levels, and pork movement improved on softer prices.
Analysts pointed to rising global stock markets and COVID-19 vaccine news as support.
Lower frozen pork stocks and improving export movement support hog prices, while softer slaughter limits supply and feed use is steady.
thepigsite.comMegan HowellNov 27, 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.
