# CME update: lean hog futures weaken as corn prices surge
						 | The Pig Site

> US lean hog futures ended lower on 10 November as corn prices surged after a USDA report cut US corn and soybean estimates. Corn futures reached their highest since July 2019 and soybeans their highest since July 2016. December lean hogs fell 0.475 cent to 65.125 cents per pound.

- Date: 2020-11-11 · published 2020-11-11T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/50300-cme-update-lean-hog-futures-weaken-as-corn-prices-surge-the-pig-site
- Commodities: [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Higher corn costs squeeze hog feeding margins, pushing producers to pay less for animals and pressuring lean hog prices, while the tighter USDA crop estimates lift feed grain prices.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- HOGS: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| HOGS | 2022-09-12 | [CME lean hog futures weaken, USDA lowers 2022 price outlook](https://feedsoft.ai/events/39741-cme-lean-hog-futures-weaken-usda-lowers-2022-price-outlook.md) | +1.7% | -2.8% |
| HOGS | 2020-06-29 | [CME update: hog futures dive on economic concerns and larger-than-anticipated supply
						 \| The Pig Site](https://feedsoft.ai/events/52768-cme-update-hog-futures-dive-on-economic-concerns-and-larger-than-anticipated.md) | -0.0% | +13.0% |
| HOGS | 2020-11-13 | [Pig outlook: Lean hog futures starting to trend down
						 \| The Pig Site](https://feedsoft.ai/events/50298-pig-outlook-lean-hog-futures-starting-to-trend-down-the-pig-site.md) | -2.9% | -3.8% |
| HOGS | 2023-11-23 | [US cattle futures sag - CME
						 \| The Cattle Site](https://feedsoft.ai/events/7971-us-cattle-futures-sag-cme-the-cattle-site.md) | -1.3% | -1.7% |
| HOGS | 2020-06-18 | [CME update: cattle futures mixed as traders await USDA report
						 \| The Beef Site](https://feedsoft.ai/events/52752-cme-update-cattle-futures-mixed-as-traders-await-usda-report-the-beef-site.md) | -5.8% | +1.7% |
| CORN | 2020-11-11 | [CME update: feed cattle futures dip as corn prices rise
						 \| The Cattle Site](https://feedsoft.ai/events/7939-cme-update-feed-cattle-futures-dip-as-corn-prices-rise-the-cattle-site.md) | +7.9% | +7.0% |
| CORN | 2021-04-05 | [DDGS prices rise after corn futures limit up  : The Daily Digest](https://feedsoft.ai/events/47719-ddgs-prices-rise-after-corn-futures-limit-up-the-daily-digest.md) | +0.4% | +22.0% |
| CORN | 2021-11-23 | [2021 Broiler outlook update: Higher prices in the chicken supply chain \| FCC](https://feedsoft.ai/events/44212-2021-broiler-outlook-update-higher-prices-in-the-chicken-supply-chain-fcc.md) | -3.9% | -0.1% |

## Sources

- thepigsite.com: https://www.thepigsite.com/news/2020/11/cme-update-lean-hog-futures-weaken-as-corn-prices-surge

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.