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Lean hog futures hit a 3.5-month high this week, with the market seen bottoming and trading sideways-to-higher. USDA export sales showed weekly US pork net sales of 39,400 MT, up 91% week over week, led by China and Mexico.
Stronger export demand from China and Mexico supports hog prices, though burdensome US pork supplies are expected to cap the rally. Feed buyers should note firm soybean meal and corn outlooks tied to hog demand.
thepigsite.comMegan HowellAug 28, 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.
