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US lean hog futures fell on 28 October as the CME December contract slid to about 66.4 cents per pound. The USDA pork cutout dropped $4.31 to $84.52 per cwt, with bellies, ribs, butts and loins all easing.
Traders are also watching for signs of Chinese demand after Germany's African swine fever cases grew to 103.
Weaker wholesale pork values pull down hog futures and feed-buyer hog margins, while uncertain China import demand limits the upside. Lower hog prices can also reduce expected feed demand from producers.
thepigsite.comOct 29, 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.
