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Lean hog futures rose on 24 August as investors re-entered after profit-taking on Friday, with October contracts up 2.07% to 55.375 cents per pound. USDA projects China pork imports at 4.4 million tonnes this year, up from 2.5 million last year.
Projected surge in Chinese pork imports supports US hog export demand and prices. Strong foreign demand offsets concerns about rising domestic supply.
fxdailyreport.comDaffa ZakyAug 24, 2020After 85 past bullish trade events, Lean Hogs moved a median +0.8% over 5 sessions (54% higher; middle half -1.8% to +4.5%), and +4.0% over 20.
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.
