Loading…
Lean hog futures pulled back from early-week highs on 23 October, though the chart outlook remained bullish. A USDA export sales report showed net US pork sales of 26,800 metric tons, down 35 percent from the prior four-week average.
Tensions with China rose after a $1.8 billion US arms sale to Taiwan.
Weaker export sales and rising China tensions threaten pork demand, which could cap hog prices and slow feed buying. Strong cash-to-futures premiums still point to firm prices.
grainews.caGFM Network NewsOct 6, 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.
