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Lean hog futures were expected to consolidate in a normal, healthy way. The CME Lean Hog Index held a premium to futures, suggesting futures could rise further.
USDA was set to release its monthly Cold Storage Report, which often shows a seasonal build in frozen pork stocks.
A cash index premium to futures points to upward pressure on hog futures. The Cold Storage Report could shift sentiment on near-term pork demand.
thepigsite.comSarah MikesellOct 23, 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.
