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US hog futures fell sharply on 19 November as surging COVID-19 infections raised fears of reduced pork demand from restaurant closures and stay-at-home orders. Weak weekly pork export sales and high feed grain prices added pressure, with December lean hogs down 2.100 cents to 63.700 cents per pound.
Weaker demand expectations and higher corn and soybean meal costs squeeze hog margins and reduce demand for feed ingredients, pointing to lower lean hog prices and softer feed demand.
thepigsite.comMegan HowellNov 20, 2020Not 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.
