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Lean hog futures hit a two-month high early in the week of August 10 before losing gains late in the week. USDA reported weekly net pork sales of 10,500 metric tons for 2020, down sharply from the prior week, and corn and soybean futures rallied late in the week despite a bearish USDA report.
Analysts see a likely hog market bottom and advise locking in feed purchases, as grain futures have already priced in bearish supply news, leaving feed costs with a sideways-higher bias.
thepigsite.comMegan HowellAug 14, 2020Not enough comparable past events yet for a historical read.
Not 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.
