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July lean hogs rose $7.80 in the week ended May 20, 2022, closing at $109.00 per hundredweight. The CFTC showed noncommercial net longs fell to 7,765 contracts, the smallest in nearly two years, while August live cattle fell to a six-month low after a bearish Cattle on Feed report.
Packers paying above formula prices for scarce hogs supports hog values, while the cattle slide reflects a bearish USDA placement and inventory report.
dtnpf.comTodd HultmanMay 23, 2022Not 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.
